laus Bræstrup resigns as President and CEO of Lundbeck

laus Bræstrup resigns as President and CEO of Lundbeck

Claus Bræstrup today resigned from his position as President and CEO of H. Lundbeck A/S and will step down immediately. Until a replacement has been found, Per Wold-Olsen, Chairman of the Supervisory Board, will act as executive chairman. The company's strategy of being a research-based company focusing on diseases of the central nervous system (CNS) will remain unchanged.
 
"Of course, it is sad to say goodbye to a company that I have enjoyed working for during the past ten years, first as head of research and later as CEO," says Claus Bræstrup. He continues: "We recently announced the best ever financial performance in Lundbeck's history, we expect continuing growth for 2008 and have a sound foundation for ensuring successful operations for Lundbeck in the long term."
 
"It is regrettable that Claus Bræstrup has decided to resign from his position sooner than we had expected. Claus Bræstrup has been instrumental in building Lundbeck's research and development activities, the proof of which we are currently witnessing in the form of the largest and broadest pipeline of pharmaceutical candidates in development in Lundbeck's history. Also, he was at the helm of Lundbeck when the company successfully switched more than 80% of its revenue from one product to other new pharmaceuticals. On behalf of the Supervisory Board, I would like to thank Claus Bræstrup for his efforts at Lundbeck," says Per Wold-Olsen, Chairman of the Supervisory Board. "Some time ago, Claus Bræstrup disclosed his considerations to retire after Lundbeck had announced its financial results for 2007. The process of identifying in-house and external candidates is therefore well underway, and we expect to announce the name of Lundbeck's new president and CEO within the next couple of months.

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