Wednesday, Swiss drug giant Novartis AG (NVS) announced the appointment of Jonathan Symonds to the posts of deputy CFO and CFO designate, effective September 1.
Symonds is currently Managing Director, Investment Banking, at Goldman Sachs Group Inc. (GS). Prior to joining Goldman Sachs, Symonds spent eight years as CFO at AstraZeneca plc (AZN), where his position encompassed Finance, M&A, Strategy, IT, Purchasing, Business Development and Licensing.
Novartis said that Symonds will be reporting to Raymund Breu, the company's current CFO who will retire on March 31, 2010 after serving the company for 35 years.
Commenting on Symonds' appointment, Daniel Vasella, Chairman and CEO of Novartis said, "Jonathan Symonds' financial expertise, broad industry experience and deep knowledge of the healthcare industry make him especially suited to take on the responsibilities of CFO of Novartis from Raymund Breu."
Over the last twelve months, shares of Novartis have hit a low of $33.34 and a high of $61.30. On the NYSE, the stock closed Tuesday's regular trading session at $38.62, up 1.82% on a volume of 3.3 million shares.
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