January 23, 2013 / 6:45 AM / 5 years ago

Bayer healthcare head returns to Novartis as Chairman

FRANKFURT, Jan 23 (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 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 Aug. 1. He will quit Bayer on Feb. 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)

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