THURSDAY, SEPTEMBER 29, 2016

AstraZeneca CFO resigns

AstraZeneca announced yesterday that it's Chief Financial Officer and Executive Director Simon Lowth will resign at the end of the third quarter.

Lowth has accepted a position as CFO for the BG Group PLC to begin in November. Lowth will continue executing his responsibilities as CFO and member of the AstraZeneca Board until he leaves in November. Executives have begun searching for Lowth's successor.

"Simon has made a significant and lasting contribution to AstraZeneca's success, helping put the company on a stronger footing for the future," AstraZeneca Chief Executive Officer Pascal Soriot said. "Personally, I will miss our interactions and I would like to thank him for all his support over the last few months. I know that I speak on behalf of everyone at AstraZeneca in wishing him well in the next chapter of his career."

Lowth's remuneration arrangements for this year will be fully disclosed in AstraZeneca's 2013 annual report and accounts. He will receive his full salary and benefits until the end of October. All earned bonuses will represent bonus shares of company stock.

AstraZeneca is a global biopharmaceutical company that produces treatments for a number of ailments, including cardiovascular, metabolic, respiratory, inflammation, autoimmune, oncology, neuroscience and infectious diseases. The company operates in more than 100 countries and distributes medications to millions of patients worldwide.