Bayer healthcare head returns to Novartis as Chairman

FRANKFURT Wed Jan 23, 2013 1:47am EST

Related Topics

FRANKFURT (Reuters) - Bayer AG said the head of its healthcare division, Joerg Reinhardt, is leaving to join his former employer Novartis as chairman.

Novartis earlier on Wednesday said its long-standing chairman and former Chief Executive would step down next month.

Reinhard will run for non-executive Chairman of the Board at Novartis' annual general meeting at the end of February and plans to take office on August 1. He will quit Bayer on February 28, the German group said on Wednesday.

Reinhard used to be Chief Operating Officer of Novartis.

Bayer's head of research and development Wolfgang Plischke will become interim head of Bayer HealthCare until a successor is appointed.

(Reporting by Ludwig Burger)


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.