AstraZeneca confirms chief financial officer’s departure

AstraZeneca has announced that its chief financial officer and executive director Simon Lowth will be leaving the company at the end of October 2013.

Mr Lowth will depart the organisation following the publication of its third-quarter financial results in order to take up the corresponding role at BG Group in November.

He will retain his current responsibilities and continue to be a member of the AstraZeneca board until his departure date, with the search for his successor having already commenced.

The executive has been with the business since 2007 and lists Scottish Power and McKinsey and Company among his previous employers.

Pascal Soriot, chief executive officer of AstraZeneca, said: "Simon has made a significant and lasting contribution to AstraZeneca's success, helping put the company on a stronger footing for the future."

Last month, the firm announced the completion of its takeover of Pearl Therapeutics, a deal valued at $1.15 billion (763.5 million pounds).