FRANKFURT (Reuters) - Bayer AG said the head of its healthcare division, Joerg Reinhardt, is leaving to join his former employer Novartis as chairman.
Novartis earlier on Wednesday said its long-standing chairman and former Chief Executive would step down next month.
Reinhard will run for non-executive Chairman of the Board at Novartis' annual general meeting at the end of February and plans to take office on August 1. He will quit Bayer on February 28, the German group said on Wednesday.
Reinhard used to be Chief Operating Officer of Novartis.
Bayer's head of research and development Wolfgang Plischke will become interim head of Bayer HealthCare until a successor is appointed.
(Reporting by Ludwig Burger)
Source: http://news.yahoo.com/bayer-healthcare-head-returns-novartis-chairman-064714123--finance.html
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