Ad hoc announcement pursuant to Art. 53 LR
Ferring Pharmaceuticals appoints new Executive Chairman among key changes to Board of Directors
- Jean-Frédéric Paulsen appointed Executive Chairman as Ferring enters new phase of growth
- Lars Rebien Sørensen appointed Vice-Chairman of Board of Directors supporting transition to new Executive Chairman
- Viviane Monges and Henrik Normann join Board of Directors bringing wealth of experience from financial and healthcare sectors to Ferring
Saint-Prex, Switzerland – 22 June 2023 – Ferring Pharmaceuticals announced today that Jean-Frédéric Paulsen has been appointed Executive Chairman of the Ferring Group, as it enters a new phase of growth following the approval of two innovative medicines by the US Food and Drug Administration.
Mr. Paulsen, who joined Ferring’s Board of Directors1 in July 2021, played a leading role in securing the US approval of Adstiladrin® (nadofaragene firadnovec-vncg) a first-in-class gene therapy offering a new approach to treating a severe form of BCG-unresponsive non-muscle invasive bladder cancer. Another breakthrough for the company came with the US approval of Rebyota™ (fecal microbiota – live jslm), the first FDA-approved microbiota-based live biotherapeutic, for the prevention of recurrence of Clostridioides difficile infection. Ferring was therefore responsible for two out of the eight biological medicine products approved by the FDA’s Center for Biologics Evaluation and Research in 2022. 2
Mr. Paulsen’s appointment is one of a number of changes to the Board of Directors marking a new phase in Ferring’s growth development. Lars Rebien Sørensen, who became Executive Chairman in July 2021, will remain on the Board as Vice-Chairman. Mr. Paulsen’s father, Dr. Frederik Paulsen, who held the post of Chairman from 1988 until 2021, continues as Chairman Emeritus of the Ferring Group.
Jean-Frédéric Paulsen said: “I am honoured to take over responsibility for the Ferring Group which was founded by my grandfather Dr. Frederik Paulsen and his wife, Eva Paulsen, in 1950, and chaired by my father for more than 30 years. Under their leadership, Ferring has established a global reputation as a leader in reproductive medicine and maternal health, and numerous specialty areas of medicine. I look forward to building on our heritage and strong foundations to lead Ferring into an exciting new era as we establish a pioneering presence in areas such as uro-oncology and the microbiome.”
Mr. Paulsen has been Chairman of Ferring Ventures SA and FinVector Oy since 2020, and previously served as Senior Advisor to four Ministers of Economy and Sustainable Development in Georgia. He began his career working at Mars Inc., Coca Cola and Credit Suisse. Mr. Paulsen gained a Master’s degree in Finance from the London School of Economics and Political Science, and is a Fellow of the Chartered Institute of Management Accountants in the UK.
In other significant changes to the Board of Directors, Viviane Monges joins the Board and has been appointed as Chair of the Audit and Finance Committee in place of Hélène Ploix, who has stood down from the Board of Directors. Ms. Monges previously held senior corporate positions in the life sciences and consumer sectors. She was a Chief Financial Officer at Wyeth Pharmaceuticals/Pfizer, Novartis and Galderma before becoming Vice-President Business Excellence Finance & Control at Nestlé.
Henrik Normann also joins Ferring’s Board of Directors, having previously been President and CEO of Nordic Investment Bank, the international financial institution of the Nordic and Baltic countries. Mr. Normann spent much of his career at Danske Bank, starting as a management trainee in 1983 and later becoming Head of Danske Bank in Denmark and Global Head of Danske Markets.
At the same time, Jeffrey Hobbs and Alexandra, Countess of Frederiksborg have stood down from the Board of Directors. All changes are effective from 1st July 2023.
Mr. Sørensen said: “As Vice-Chairman of the Board of Directors, I am pleased to support the new Executive Chairman during a period of transition as he takes on greater responsibilities from the Chairman Emeritus. I would like to welcome the new members of the Board of Directors, and to sincerely thank those who have done so much to drive the company’s long-term strategy, helping more people around the world to build families and live better lives.”
About Ferring Pharmaceuticals
Ferring Pharmaceuticals is a research-driven, specialty biopharmaceutical group committed to helping people around the world build families and live better lives. Headquartered in Saint-Prex, Switzerland, Ferring is a leader in reproductive medicine and maternal health, and in specialty areas within gastroenterology and urology. Ferring has been developing treatments for mothers and babies for over 50 years and has a portfolio covering treatments from conception to birth. Founded in 1950, privately-owned Ferring employs over 7,000 people worldwide. The company has operating subsidiaries in more than 50 countries and markets its products in over 100 countries.
- This refers to the Board of Directors of Ferring Holding SA, the parent company of the Ferring Pharmaceuticals group.
- U.S. Food and Drug Administration. 2022 Biological License Application Approvals. Available at: https://www.fda.gov/vaccines-blood-biologics/development-approval-process-cber/2022-biological-license-application-approvals. Last accessed February 24, 2023.