Mr Pettersson told the company’s board of directors that he would not be standing for re-election at the company’s annual general meeting on 21 March 2013.
“I have held a seat on the Board of Directors of Lundbeck for nearly ten years, acting as chairman for close to two years,” said the departing Mats Pettersson. “I have had ten very exciting years, and it has been a privilege to contribute to developing Lundbeck and expanding the company’s strong position.”
Håkan Björklund, an existing board member, hopes to replace Pettersson if he is reelected to the board at the AGM. He said he has an “in-depth knowledge” of the company and hopes to contributes to the company’s “progress and future growth” if he is elected.
Pettersson’s departure has created an opening on the company’s board of directors. Lundbeck plans to appoint Lars Rasmussen, CEO of Coloplast A/S, as a new board member at the AGM.
Håkan Björklund, Christian Dyvig, Thorleif Krarup, Jes Østergaard and Melanie G Lee all hope to be reelected. Christian Dyvig expects to be reappointed as deputy chairman of the Board of Directors.