In a surprise move, Roche CEO and Chairman Franz Humer will hand over the top executive post to Severin Schwan, the head of the diagnostics division. Roche said that the move to split the top two positions was driven by the growing complexity of responsibilities at the company. Humer joined Roche after he lost out in the fight to take the helm at GlaxoSmithKline. Earlier he had worked at Schering-Plough. The change-up was announced along with the news that Roche's first half profits had surged 29 percent.
- check out Roche's announcement on the switch
- read the article on Roche from The Financial Times
ALSO: Humer, though, is sticking to his guns as he fights to achieve a $3 billion hostile takeover of Ventana Medical Systems. He says that Roche isn't interested in raising its $75 per share bid. Report
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