AstraZeneca searching for successor to chairman Johansson, report says

AstraZeneca has begun the search for a new chairman as the role's current incumbent Leif Johansson looks set to end his seven year spell at the Anglo-Swedish outfit, according to a report from Sky News.

The report stated that the pharmaceutical giant's nomination and governance committee is starting to consider the search for Johansson's successor more formally and, though no date has been set in stone, one investor was quoted as expecting the chairman to step down within the next 18 months.

Johansson, who has also served as chief executive of Volvo and chairman of Ericsson, has played a key role in preserving the FTSE 100 traded company's independence, fending off a £55 per share (£69bn) takeover bid from Pfizer five years ago.

AstraZeneca's shares were up 0.84% at 5,994.00p at 1005 BST.