Roche unveils management changes

Roche (SIX:ROG) announced its planned organizational changes for its integration with Genentech Inc., retaining key managers of the biotech in both scientific and commercial operations. At the same time, the pharma has made sure Basel has close oversight by appointing an insider as the new CEO in South San Francisco. As Genentech CEO, Pascal Soriot will oversee all pharma activities in the U.S. and report directly to Roche CEO Severin Schwan. Soriot has been Roche's head of commercial operations and global strategic marketing.

The changes will leave current Genentech Chairman and CEO Arthur Levinson in board roles, but without management responsibility after year-end. Susan Desmond-Hellmann, president of product development, will depart by mid-year. Also departing are EVP and CFO David Ebersman and EVP and Chief Compliance Officer Steve Juelsgaard, leaving four of the seven members of Genentech's current executive committee without management roles in the integrated company. ...