Basilea Pharmaceutica Ltd. announced that the Chairman of the Board, Dr. Martin Nicklasson, has informed the board that he will not stand for re-election as Chairman at the 2016 AGM. Dr. Nicklasson will stand for re-election as a board member. Dr. Nicklasson has been Chairman of the Board since 2013.

The board proposes that the shareholders elect Domenico Scala as the new Chairman of the Board. Mr. Scala, a Swiss and Italian citizen, has served as a Member of Basilea's Board of Directors and its Vice-Chairman since 2011. From 2007 to 2011, he was President and Chief Executive Officer of Nobel Biocare Holding AG and from 2003 to 2007, he was Chief Financial Officer of Syngenta International AG.

According to Basilea's current Organizational Regulations, the term of each member of the Board of Directors ends effective as per the AGM immediately following completion of his or her seventieth year of age. For this reason, Mr. Hans-Beat Gürtler, board member since 2009, will not stand for re-election at the 2016 AGM.