Amgen announces CEO succession plan

Amgen has outlined its chief executive officer (CEO) succession schedule following the announcement that company head Kevin Sharer will be retiring next year.

The chairman and CEO of Amgen will bring his 20-year career with the firm to a close at the end of 2012 and will be stepping down from the CEO role on May 23rd 2012, when he will be succeeded by current president and chief operating officer Robert Bradway.

Mr Sharer will remain with the company as chairman of the board until December 31st 2012 in order to ensure a smooth transition process, with Mr Bradway also taking on the chairman role when Mr Sharer finally departs.

This announcement coincides with the appointment of Sean Harper as executive vice-president for research and development, succeeding the outgoing Roger Perlmutter.

Mr Sharer said: "Bob and Sean have demonstrated sound judgment, delivered consistently excellent operating results and provided strong leadership in a variety of challenging roles. Amgen will be in good hands."

According to the firm's most recent financial report in October 2011, Amgen has seen a better-than-expected performance in the year to date, leading the company to increase its targets for the full-year period.