The chairman of Roche Holding (OTC:RHHBY) will leave his post next year. At the company's annual general meeting, Franz Humer said he will not stand for re-election when his current term expires in 2014. Roche said it will nominate his successor this autumn, and like Humer, this person will serve as a non-executive chairman.
In addition to his position as chairman, Humer also served as the company's CEO from 1998 to 2008. He said of the company: "Roche is in excellent shape and well positioned to meet future challenges. This is a good time to hand over to a successor."