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Roche (RHHBY) Takes Its Hunt for a New Chairman Further Afield  
7/22/2013 7:26:35 AM

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Swiss drugmaker Roche faces the prospect of hiring an outsider to replace its chairman of 16 years after its most suitable board members turned down the job. The 117-year old company - the world's largest maker of cancer drugs - set itself an autumn deadline to find a successor to Franz Humer, an influential, hands-on former Roche chief executive who says he will not stand for re-election next year. But the search hit an early stumbling block when the CEOs of Shell and Nestle, who both sit on Roche's board, said they weren't interested.

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