Novartis(US:NVS) Globenewswireยท2025-07-17 05:05Core Viewpoint - Novartis has announced the appointment of Mukul Mehta as the new Chief Financial Officer (CFO), effective March 16, 2026, succeeding Harry Kirsch, who will retire after a 22-year career with the company [1][6]. Group 1: Leadership Transition - Mukul Mehta brings over 20 years of experience at Novartis, having held various key finance leadership roles, including CFO International and CFO Pharmaceuticals [3][6]. - Harry Kirsch has been with Novartis for 22 years and has played a significant role in the company's transformation, including streamlining divisions and successful spinoffs [2][4]. - Mukul Mehta expressed his honor in taking on the CFO role and emphasized the commitment to delivering sustainable value for patients and shareholders [4]. Group 2: Company Performance - Under Harry Kirsch's leadership, Novartis has seen significant improvements in financial performance, including a strong balance sheet and robust free cash flow [4]. - The company has transitioned from six divisions to three and successfully divested stakes in various ventures, enhancing its focus on medicines [2][4]. Group 3: Future Outlook - Mukul Mehta's deep knowledge of the business and strong financial expertise are expected to guide Novartis through its next phase of growth [4]. - The company aims to continue its journey as a focused medicines company, enhancing its impact on patients and shareholders [4].