AstraZeneca announces new chairman and executive appointments

AstraZeneca has proposed Leif Johansson for election as a non-executive director, with the intention of appointing him non-executive chairman of the board later this year.

Mr Johansson, chairman of global telecommunications company Ericsson, has been selected as the successor to Louis Schweitzer, who will retire as chairman on September 1st 2012, the date of Mr Johansson's proposed appointment.

"Leif is an outstanding businessman with a first-class track record leading multinational companies, as well as previous experience of the pharmaceutical industry," said Mr Schweitzer.

This coincides with a number of other executive changes that are set to come into effect following AstraZeneca's annual general meeting on April 26th, with Graham Chipchase and Genevieve Berger also set to receive directorial roles.

John Varley will become senior independent non-executive director and Rudy Markham is to be named chairman of the audit committee, while Michele Hooper is set to retire from the board.

Last month, AstraZeneca announced that it will also be restructuring its business over the coming year, with the aim of unlocking efficiency savings.