Pascal Soriot has been named chief executive officer of AstraZeneca. Dr. Soriot will take on his new responsibilities and join the AstraZeneca PLC board as an executive director on October 1, 2012. Simon Lowth will remain as AZ’s interim chief executive officer until Dr. Soriot joins the company; after that, he will resume his responsibilities as chief financial Officer and will continue to serve as an executive director on the board.

Dr. Soriot joins AstraZeneca from Roche AG, where he has served as chief operating officer of the pharma division since 2010. In that role he has global responsibility for development, manufacturing, commercial operations and administration for a business that recorded sales of $34 billion in 2011 and has approximately 44,000 employees worldwide. Prior to that Dr. Soriot was chief executive officer of Genentech during its integration with Roche. Dr. Soriot joined the pharmaceutical industry in 1986 and has worked in senior management roles in the US, Asia and Europe.

He commented, “I am excited and honored to have been asked to lead AstraZeneca. Throughout my career I have had enormous respect for the people of AZ and what they have achieved. No one is blind to the challenges that confront the pharmaceutical sector and this company, but the underlying strengths of AZ in delivering on its strategy are clear. AZ will continue to make a positive difference to patients over the longer term and I’m looking forward to playing my part in shaping that future.”

Leif Johansson, AZ’s chairman, remarked, “This is a key appointment at an important time for AstraZeneca and we are certain that Pascal’s leadership qualities combined with his strategic thinking and relevant experience make him the right person to drive the company to success over the coming years. I am confident that Pascal’s approach and his track record of delivering results in innovation-driven businesses will be valued by shareholders and employees alike.”