Pharma Heads Pass Leadership Baton

The pharmaceutical industry is evaluating and adapting to the Great Reset, set in motion back in 2020. One key strategy in this regard has been the change of management structure, with several high-profile leadership changes in 2023. As the euphoria of pandemic-induced record revenues subsided in 2023, the pharmaceutical industry had to reevaluate its strategies and has undergone significant structural changes. Companies adapted their approaches, implementing measures such as job cuts, mergers and acquisitions M&A), and a comprehensive overhaul of top management to navigate the evolving landscape effectively. Big Pharma elites, including Pfizer, Sanofi, Novartis, Astellas, among others, have announced a slew of leadership changes in recent times. Let’s explore these further.

- Ayesha Siddiqui

In March 2023, Pfizer announced a $43 billion merger with Seagen, one of the most substantial M&A deals in recent times. Fast-forwarding to July 2023, Pfizer had already initiated strategic leadership changes, preparing itself for the impending mega-merger.

Dr Chris Boshoff joined Pfizer’s executive leadership team as chief oncology research and development officer and executive vice president (VP). Boshoff will be the single point of accountability for the entire oncology pipeline – from discovery to early and late-phase clinical development. Previously, Dr Boshoff oversaw clinical research and product development activities for Pfizer’s oncology portfolio. In addition to his expanded role, Dr Boshoff is leading the integration planning for Seagen’s medicines and team. 

Chief Scientific Officer (CSO) Dr Mikael Dolsten will expand his role to become CSO and president of R&D. William Pao, chief development officer and Executive VP, is leaving the company to pursue new opportunities outside. Pfizer believes the changes will benefit the company in its current stand-alone structure, and also aligns with Pfizer’s vision for the potentially combined organisations.

Novartis recently witnessed a series of leadership changes. Marie-France Tschudin, the president of innovative medicines international and chief commercial officer, has chosen to leave the company after nearly seven years. Consequently, she will step down from the Executive Committee of Novartis (ECN). Dr Patrick Horber, (Former VP, AbbVie) has been appointed as the new president, International. Dr Horber will also assume a position on ECN.