Basel, Switzerland, 24 June 2024 - Today, the Lonza Board of Directors has announced a series of updates, which will take effect on 1 August 2024. The changes to Board structure, in line with best practice corporate governance, are designed to enhance governance and ensure robust succession planning, business stability and continuity.
An updated committee structure, with an increased focus on talent, leadership and organizational health, will enable a strategic approach to Lonza’s growth. The current Nomination and Compensation Committee (NCC) will be split into two separate committees. A newly created Nomination and Governance Committee (NGC) will be responsible for overseeing governance, talent development, and succession planning for the Board and Executive Committee. This new committee will be chaired by Jean-Marc Huët, the Chairman of the Board of Directors. In addition, a newly created Remuneration Committee (RemCo) will be responsible for reviewing and recommending compensation policies and plans, agreeing employment terms and evaluating the performance of the Executive Committee and CEO. The Innovation and Technology Committee (ITC) and the Audit and Compliance Committee (ACC) will remain in their current form.
Alongside these structural updates, a reconfiguration of Board member roles will ensure an even distribution of responsibilities and support a robust approach to succession planning. Jürgen Steinemann will take the role of Vice Chairman. In line with best practice and to promote continuity, the role of Lead Independent Director will be retained, and Christoph Mäder will continue to hold this position. More widely, a majority of Board members will serve on two of the four Board Committees, bringing each Board member closer to the business in areas relevant to their experience and expertise.
To support independence, Board members’ positions will be reviewed after nine years of service, with the maximum possible tenure set at twelve years. The Board member skills matrix will also be regularly assessed to ensure the Board is set up to serve Lonza’s business today and in the future.
Jean-Marc Huët, Chairman of the Board, Lonza, commented: “With these enhancements, we are promoting principles of best practice of corporate governance, increasing our focus on succession planning, and enhancing organizational health across our business. By working in this way, we intend to set a tone from the top as our business enters an era of structured growth and development.”