Jimenez calls now 'right moment' to move on; investors unsure

All eyes were on the share price of Swiss pharma giant Novartis (NVN: VX) on Monday after the announcement that Joseph Jimenez (pictured above) was to step down from his role as chief executive.

He will be replaced by Vasant Narasimhan, the company’s current global head of drug development and chief medical officer, an experienced Harvard-trained doctor with all the right credentials, but Mr Jimenez’s decision to leave at what is a crucial time for Novartis is likely to create some uncertainty and stocks were down 1% at 80.05 Swiss francs ($83.68) as Monday’s trading neared its end.

Mr Jimenez has been in charge at the Basel-based firm since 2010, having joined the company three years earlier and held previous positions leading the Consumer Health unit and as division head of Novartis Pharmaceuticals.