Lundbeck CFO to retire

Lundbeck has announced that its executive vice president and chief financial officer Hans Henrik Munch-Jensen has decided to retire from this role following the presentation of the company’s annual report for the 2006 fiscal year on March 7th 2007.

The company reports that it has begun the process of recruiting a replacement for this position. Following this announcement, Lundbeck stated that its activities relating to marketing and sales will now be concentrated under one member of executive management.

“As a consequence, Ole Chrintz will withdraw from Lundbeck executive management, but will continue his current responsibilities within the company,” the company reports.

These responsibilities will include that of establishing a sales organisation for the firm in the US.

Lundbeck notes that, as a result of these changes, the composition of its executive management will include Claus Braesstrup as chief executive officer, Lars Bang as executive vice president, supply operations, engineering and IT and Stig Lokke Pdereson as executive vice president of commercial operations.

These changes will not alter the company’s recently announced financial predictions.

Earlier this month Lundbeck released its financial calendar for 2007, noting the aforementioned publication if its annual report in March, together with its annual general meeting on April 24th, its interim report for the first quarter on May 9th, second quarter on August 15th and third quarter on November 14th.