AstraZeneca today announced that Dr Cornelia (Cori) Bargmann will be proposed to shareholders for election as a Non-Executive Director at the Company's Annual General Meeting (AGM) on 24 April 2015. On election, the Board also proposes appointing Dr Bargmann to AstraZeneca's Science Committee.
Cori is the Torsten N. Wiesel Professor and head of the Lulu and Anthony Wang Laboratory of Neural Circuits and Behavior at The Rockefeller University, New York, and a Howard Hughes Medical Institute investigator.
John Varley, senior independent Non-Executive Director and Dame Nancy Rothwell, Non-Executive Director, both intend to retire from the Board at the close of the AGM on 24 April 2015, each having served as a Board member for nine years. John is currently Chairman of the Remuneration Committee and a member of the Nomination and Governance Committee. Dame Nancy Rothwell is currently Chairman of the Science Committee, and a member of the Remuneration Committee and the Nomination and Governance Committee.
As a result of the retirement of John Varley and Dame Nancy Rothwell, the following Board Committee changes will take place with effect from the close of the AstraZeneca 2015 AGM:
· Rudy Markham will become senior independent Non-Executive Director.
· Graham Chipchase will become Chairman of the Remuneration Committee and a member of the Nomination and Governance Committee.
· Bruce Burlington will become Chairman of the Science Committee and a member of the Nomination and Governance Committee.
· Geneviève Berger will oversee sustainability matters on behalf of the Board.
In addition, Shriti Vadera will become a member of the Remuneration Committee with immediate effect.
Leif Johansson, AstraZeneca Chairman, said: "John Varley and Dame Nancy Rothwell have been committed and hard-working Board members, serving the Company and its shareholders for the best part of a decade. I would like to pay tribute to their experience, wisdom, common sense and collegiality, as well as their leadership of the Remuneration Committee and the Science Committee respectively. I speak for all of my colleagues on the Board in saying that we will miss them and their contribution to our work; they go with our very best wishes for their future endeavours."
"Their retirement has provided us with an opportunity to propose the appointment of new Board members. We welcomed Ann Cairns last year and are delighted that Cori Bargmann has agreed to join the Board in April. Cori will bring a wealth of experience in scientific research, fitting the needs of AstraZeneca's Board very well."
All other current Directors will be presenting themselves for re-election at the AGM, in accordance with AstraZeneca's normal practice.
In making the proposals and Board Committee appointments described above, the Board considered and satisfied itself as to the availability and time commitment of the Directors concerned.
In relation to the proposed election of Cori Bargmann as a Non-Executive Director, there are no directorships to disclose under paragraph (1) and no disclosure obligations arise under paragraphs (2) to (6) of LR 9.6.13 R of the UK Listing Authority's Listing Rules.