First rumors about radical top management reshuffle at Astra Zeneca

The Sunday Times yesterday reported that AstraZeneca has started working on a replacement plan for CEO Pascal Soriot and CFO Marc Dunoyerl, due to pressure by some main shareholders, dissatisfied with the French manager’s work.

The British weekly mentions Mene Pangalos, head of iMED, and Ruud Dobber, US commercial manager, as the two most eligible candidates to replace Soriot. Soriot has been leading AstraZeneca since 2012, and the group’s capitalization has almost tripled since then. The hardest decision for the French manager since when he was appointed has probably been convincing shareholders to decline Pfizer’s acquisition bid, which got to almost $118bn.

Soriot has often made the headlines lately–for example, he was suggested as candidate CEO by Israel-based Teva last summer, and he had to defend his group last week, following disappointing results from Mystic clinical trial, assessing the potential blockbuster Imfinzi on lung cancer patients.  AstraZeneca’s shares have remained fairly unaltered as the news was announced.

(Source: The Sunday Times)