ZURICH (Reuters) - Roche Chairman Franz Humer said on Tuesday he will not stand for re-election next year after 16 years at the helm of the Swiss drugmaker as chief executive and chairman.
"This will be my last year as Roche chairman," Humer, 66, told shareholders gathered in Basel for the company's annual general meeting.
"Roche is in excellent shape and well positioned to meet future challenges. This is a good time to hand over to a successor. I am looking forward to the next 12 months, and I intend to perform my duties as Chairman with enthusiasm and drive."
In January, Daniel Vasella, chairman of cross-town rival Novartis said he was stepping down as chairman.
(Reporting by Caroline Copley, editing by Emma Thomasson)