Actelion Ltd. Appoints COO in Management Shake-up, Creates Biotech Startup
Published: Jun 08, 2011
Actelion Ltd (SIX: ATLN) announced today that Otto Schwarz has been appointed Chief Operating Officer (COO). Otto Schwarz joined Actelion in 2008 as Head of Business Strategy & Operations. In addition to Commercial Operations and Business Strategy he assumes responsibility for Corporate Services, Global Quality Management and Corporate Communications, with all three departments retaining their respective Heads. Jean-Paul Clozel, M.D and Chief Executive Officer commented: "Otto Schwarz has demonstrated his leadership and managerial skills by growing our product sales in all markets worldwide as well as by expanding our global footprint. I am convinced that Actelion will continue to greatly benefit from his new expanded role with his drive for both operational and commercial excellence." Jean-Paul Clozel concluded: "Otto's new role will allow me to focus even more on strategic matters. Together, we are committed to move Actelion to the next stage - advancing value creation for all stakeholders by turning innovation into successful medicines that change patients' lives. Actelion will continue to focus on orphan drugs and specialist markets and to collaborate, whenever appropriate, with third parties for other indications. We will also continue to evaluate in-licensing and acquisitions and act decisively when we identify value-adding opportunities." Actelion Executive Committee with five core members Actelion has also adapted the membership of its Executive Committee (AEC), chaired by Jean-Paul Clozel, to the needs of a growing organization and to strengthen leadership and governance. The Executive Committee members comprise: - Jean-Paul Clozel (Chief Executive Officer) - Otto Schwarz (Chief Operating Officer, Executive VP) - Andrew Oakley (Chief Financial Officer, Executive VP) - Guy Braunstein (Head Global Clinical Development, Executive VP) - Nicholas Franco (Chief Business Development Officer, Executive VP) In addition to this core group, the extended AEC includes the following members: - Christian Albrich (Head Global Human Resources, Senior VP) - Marian Borovsky (Group General Counsel, Senior VP) - Martine Clozel (Chief Scientific Officer, Senior VP) - Roland Haefeli (Head Investor Relations and Public Affairs, Senior VP) In line with the focus on strategic matters that includes driving innovation, the Chief Executive Officer will maintain the three co-heads of Research as direct reports: Beat Steiner (Drug Discovery, Biology), Thomas Weller (Drug Discovery, Chemistry) and Martine Clozel (Drug Discovery, Pharmacology and Preclinical Development). The Group Compliance Officer, Peter Herrmann, will report to both the Chief Executive Officer as well as to the Nominating and Governance Committee of the Board of Directors, to ensure continued focus on corporate compliance. Other changes - Isaac Kobrin, previously Chief Medical Officer, will take up a new role to plan and ultimately lead a biotech startup separate from Actelion that will undertake the clinical development of its non-core compounds. - Simon Buckingham, previously Head Global Corporate and Business Development, will take up a new role (on a part-time basis) leading special projects and advising on corporate strategic matters. All changes come into effect on Tuesday, 07 June 2011. More information about Actelion's management structure and management members can be found on www.actelion.com. Actelion Ltd. Actelion Ltd is a biopharmaceutical company with its corporate headquarters in Allschwil/Basel, Switzerland. Actelion's first drug Tracleer®, an orally available dual endothelin receptor antagonist, has been approved as a therapy for pulmonary arterial hypertension. Actelion markets Tracleer® through its own subsidiaries in key markets worldwide, including the United States (based in South San Francisco), the European Union, Japan, Canada, Australia and Switzerland. Actelion, founded in late 1997, is a leading player in innovative science related to the endothelium - the single layer of cells separating every blood vessel from the blood stream. Actelion's over 2,400 employees focus on the discovery, development and marketing of innovative drugs for significant unmet medical needs. Actelion shares are traded on the SIX Swiss Exchange (ticker symbol: ATLN) as part of the Swiss blue-chip index SMI (Swiss Market Index SMI®).