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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Roche Holding Ltd.    ROG   CH0012032048

ROCHE HOLDING LTD.

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Roche : Names New Genentech R&D Chief

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12/12/2014 | 03:10am EDT
By Neil MacLucas 

ZURICH-- Roche Holding AG said Friday it plans to expand its board of directors by two members, as it announced the head of its important Genentech research and development arm will retire.

Basel-based Roche said it will nominate Bernard Poussot, the former chief executive of Wyeth Corp., and Richard Lifton, a genetics professor at Yale University's medical school to the board. If approved at the company's March 3 annual meeting, the board will expand to 12 members.

Roche also said Richard Scheller, the head of Genentech research and development unit would retire at the end of the month. He will be replaced by Michael Varney, who currently heads the unit's small molecule discovery division, on Jan. 1, 2015.

Genentech, which Roche bought in 2009, is a crucial part of the Swiss company's business. Genentech makes many of Roche's top-selling drugs, including a franchise of breast cancer therapies.

The change at gRED, as the research arm is often called, comes three months after Arthur Levinson, Genentech's former CEO and chairman, resigned from the unit's board because of his work with Calico LLC, a Google Inc. life sciences company.

Roche said the current 10 members of its board, in addition to the two nominees, will all stand for re-election at the March meeting.

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Corrections & Amplifications

This was corrected at 1305 GMT because the original misstated the Roche executive's role in the headline.

Stocks mentioned in the article
ChangeLast1st jan.
ROCHE HOLDING -2.36% 265 Delayed Quote.13.37%
ROCHE HOLDING LTD. -2.42% 264.65 Delayed Quote.11.42%
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Financials (CHF)
Sales 2019 60 696 M
EBIT 2019 22 027 M
Net income 2019 14 090 M
Debt 2019 2 214 M
Yield 2019 3,46%
P/E ratio 2019 16,2x
P/E ratio 2020 16,1x
EV / Sales2019 3,76x
EV / Sales2020 3,66x
Capitalization 226 B
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 289,59  CHF
Last Close Price 264,65  CHF
Spread / Highest target 34,5%
Spread / Average Target 9,42%
Spread / Lowest Target -24,4%
EPS Revisions
Managers
NameTitle
Severin Schwan Chief Executive Officer & Executive Director
Christoph Franz Chairman
Alan Hippe Chief Financial & Information Technology Officer
John Irving Bell Non-Executive Director
Andreas Oeri Independent Non-Executive Director
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