SANDOZ TAPS FORMER COO TIM ROTHWELL TO SUCCEED REJEANGE AS CEO

Executive Summary

SANDOZ TAPS FORMER COO TIM ROTHWELL TO SUCCEED REJEANGE AS CEO, the company announced June 23. Rothwell, 41, worked for Sandoz between 1972 and 1989, last serving as chief operating officer of Sandoz' U.S. pharmaceutical division. He will rejoin Sandoz in early July, replacing Jacques Rejeange, who resigned two weeks ago after 26 years with the company to head Kodak's Sterling Winthrop Pharmaceuticals ("The Pink Sheet" June 18, T&G-3). Rothwell left Sandoz to become vice-president and general manager of Squibb's Pharmaceuticals Division in 1989. He joined Burroughs Wellcome in June 1991, where he has been serving as VP-marketing and sales. "Tim Rothwell is rejoining Sandoz Pharmaceuticals at a time when the company is pursuing an extensive program of expansion and cooperative ventures in the U.S.," Sandoz Chairman Daniel Wagniere said. "He is eminently qualified to lead this effort and we welcome him back among us." Over the last year, Sandoz has been active in start-up investments and collaborative deals with U.S. firms and began trading depository shares in the U.S. last November. However, Sandoz also has been experiencing a management drain in its U.S. operations, beginning with the departure of Fred Hassan in 1989, who left to head Wyeth- Ayerst. More recently, Sandoz Research President Robert Levy, Senior VP-R&D Manfred Karobath and Rejeange also have resigned. In a separate same-day release, Burroughs Wellcome announced that Rothwell would be replaced by Lederle Pharmaceuticals VP and General Manager Mark Perrin, who has experience in sales and marketing as well as product management for anti-infectives, vaccines and biological products. Lederle has not yet announced Perrin's replacement.