Today STADA Arzneimittel AG and its long-serving chairman of the management board Hartmut Retzlaff agreed on terminating their service relationship due to personal circumstances.
Hartmut Retzlaff has resigned from his office as member of the management board, which he had laid down since June 5, 2016, with effect as of August 15, 2016. Hartmut Retzlaff will be released from his duty to perform services under his board member service agreement until the agreed termination of the service agreement on December 31, 2016.
In accordance with Number 4.2.3 Deutscher Corporate Governance Kodex, the German corporate governance code, the payments agreed between STADA and Hartmut Retzlaff on the premature termination of his contract, comprising of a severance payment and the continued payment of his salary until the end of contract on 31 December 2016, do not exceed the severance pay cap of two years‘ compensation.
Five years ago, GSK made headlines when it hired Emma Walmsley to become the first woman to run a major pharmaceutical company. Now the Big Pharma has brought in another woman to control the company’s finances. Julie Brown will be GSK’s next chief financial officer. Brown, currently the chief operating and financial officer at fashion and beauty brand Burberry Group, is set to replace Iain Mackay.
Moderna created a new role responsible for “building out the company’s organization to support its growing pipeline.” Starting first thing 2023, Juan Andres, Moderna’s manufacturing head, will step into this new role under the title president of strategic partnerships and enterprise expansion, the company said Thursday.
The latest takeover is anticipated to boost the presence of Torrent in the dermatology segment. Indian company Torrent Pharmaceuticals has signed a definitive agreement for the complete acquisition of Curatio Healthcare for $245.16m (Rs20bn).