Lufthansa CEO to become new Roche Chairman

The Roche Board of Directors has nominated Christoph Franz, the head of German airline Lufthansa, to be elected as its new Chairman of the Board. Franz has been on Roche's supervisory board since 2011, and has been at Lufthansa for the past 15 years.

"I am delighted that the Board of Directors has nominated me to become the next chairman of the Roche Group. Roche is an outstanding company. As a board member I have had ample opportunity to get to know and admire its strong business performance and corporate culture. Strategically, Roche is in very good shape, and I am looking forward to taking on this opportunity."

Christoph Franz.

Franz will take over from Franz B.Humer, who announced he would not be standing for re-election at the last Roche shareholder meeting, when his current contract at Lufthansa expires on the 31st May 2014.

"With Christoph Franz, Roche is getting a chairman with outstanding personal qualities and an impressive record as head of a major global company. I am sure that his extensive experience, exceptional global network and strong links to Switzerland will be great assets."

Roche's current Chairman, Franz B. Humer.