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Novartis CEO making surprise exit; CMO picked to replace him

Outgoing chief is credited with reshaping Swiss firm with asset swops, preparing sale of underperforming units

"I've been CEO for eight years and I've been pretty public about the fact that I didn't think a CEO should stay much longer than that. You come in, you see what you want to change, you change it, and then it's time to pass it on to a successor." - Novartis chief executive officer Joseph Jimenez.

Mr Vasant Narasimhan, 41, will take over as chief executive officer on Feb 1, 2018.


NOVARTIS AG announced the surprise departure of chief executive officer Joseph Jimenez after eight years at the helm of Europe's largest drugmaker, during which time he reshaped the company with asset swaps and prepared the sale of underperforming divisions.


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