Report: Schweitzer to step down as AstraZeneca's chairman

AstraZeneca ($AZN) is on the hunt for a new chairman. Louis Schweitzer, who's filled that role since 2005, is stepping down, Sky News reports.

John Varley, currently a non-executive director at AstraZeneca, was approached about the vacancy. However, Varley, a former chief executive of Barclays, isn't likely to end up in the slot, Sky News' sources said. Executive search firm MWM Consulting is said to be handling the search. AstraZeneca wouldn't comment.

The 68-year-old Schweitzer also chairs the board at Volvo. He previously ran the French automaker Renault.

- read the Sky News piece