AstraZeneca installs Michel Demaré as non-executive board chair 

AstraZeneca (LON:AZN) has appointed Michel Demaré as the chair-designate of its board.

Demaré will replace Leif Johansson, the current chair of the board of AstraZeneca, who plans to retire in April 2023.

There will be a managed handover period in the coming months.

Demaré joined AstraZeneca’s board of directors in September 2019 as an independent non-executive director.

He now is the chair of AstraZeneca’s remuneration committee and a member of the audit committee and the nomination and governance committee.

“I could not be prouder to be named chair-designate of the board of AstraZeneca and am excited to have the opportunity to build on Leif’s success as chair and work with Pascal and members of the board and senior executive team when I take on my new role in 2023,” said Demaré in a statement.

Pascal Soriot is the CEO of AstraZeneca.

After beginning to serve as chair of the board, Demaré will receive an annual fee of £800,000.

Demaré also serves as a deputy chair of the Louis Dreyfus Company and the chair of IMD Business School. In addition, He also is the chair of the board at Nomoko and a supervisory board member at Vodafone.