ACTELION'S BOARD OF DIRECTORS: OUR BEST PRACTICES ...

ACTELION'S BOARD OF DIRECTORS: 

OUR BEST PRACTICES, 

EXPERTISE AND GOVERNANCE 

White Paper 

Copyright © 2011 Actelion Pharmaceuticals Ltd

CHAIRMAN’S STATEMENT 

Dear Shareholder, 

This document provides some detailed information on Actelion’s Board of Directors and our approach towards corporate 

governance. 

I, as Chairman of the Board, and we, as a Board of Directors, see corporate governance as the underpinning foundation for 

maximizing value creation for our shareholders through adoption of and compliance with applicable laws and best practices as 

a public company. 

The Board of Directors is composed of an outstanding group of people, who bring a wide range of professional expertise from 

many facets of corporate life. This expertise, in combination with the Board’s structure, independence, and high level of 

engagement, provides a great deal of oversight of the Company and its Management. 

Last, as I wrote in the 2010 Annual Report, I reconfirm that the Board has given much attention to directing and reviewing the 

Company’s strategy. We are committed to continuing this and look forward to reporting to you on these efforts on a regular 

basis. We are well aware that your support as shareholders has been and will remain fundamental to our ongoing success. 

Robert E. Cawthorn Chairman of the Board of Directors 

2 

© 2011 Actelion Pharmaceuticals Ltd 

08 March 2011 White Paper

ACTELION’S BOARD OF DIRECTORS 

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1 

2 

3 

Independence, Structure and Best Practices 

Experience and Expertise 

Focus on Highest Standards of Corporate Governance 



SUMMARY 

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1 

2 

3 

Independence, Structure and Best Practices 

► Actelion has a highly independent Board, with 8 out of 9 directors being independent from 

the Company 

► Our Chairman and Vice-Chairman are both non-executive 

► The Board actively engages in the operational and financial performance and strategy of 

the Company directly and via a number of highly influential committees 

Experience and Expertise 

► Experienced Board of Directors, with many years of service as CEOs, CFOs, and COOs of 

some of the world’s most important biotech and pharmaceutical companies 

► Broad range of expertise across industry, drug development, financial and legal areas 

Focus on Highest Standards of Corporate Governance 

► Actelion is fully compliant with the Swiss Code of Corporate Governance best practices 

(one of the most shareholder friendly codes globally) 

– Very high standards substantially aligned with those in the UK and the US 

– Endorsed by ISS, one of the most authoritative voices in terms of corporate 

governance 



INDEPENDENCE, STRUCTURE AND BEST PRACTICES 

OUR BOARD – 

INDEPENDENT, EVOLVING, DIVERSE AND EXPERIENCED 

� Independent 

– 8 of the 9 directors are independent of the Company 

– Non-executive chairman and vice-chairman 

– Nominating, Compensation and Audit Committees comprised solely of independent directors 

� Evolving 

– Actelion has added two new directors with strong biotech, operating and/or financial experience in the past two 

years 

• Michael Jacobi and Joseph C. Scodari 

� Diverse and Experienced 

5 

– Our directors bring expertise and experience from years of service as CEOs, CFOs, and COOs of some of the 

world’s most important biotech and pharma companies 

– Our directors possess deep financial expertise – as former CFOs, bankers and chief investment officers – while 

others have served in policy and government 

– International diversity – directors from Switzerland, US, UK, France, Germany and Finland 

– Recognized as leaders in their fields 


08 March 2011 White Paper 

1


FOCUSED AND ENGAGED BOARD 

� Board had eight sessions in 2010, either in person meetings or by telephone 

conferences 

– Executive sessions occur at every Board meeting (CEO not present during 

that time) 

– Board has additional ad-hoc meetings or telephone conferences as 

� 

necessary 

Board agenda set by Chairman 

� Executive succession plans are periodically reviewed by Board 

� Internal controls over financial reporting are voluntarily compliant with Sarbanes- 

Oxley 

� Enterprise Risk Management: Annual assessment of strategic and operational 

risks, in line with COSO II framework 

� Actelion will propose annual “Say-on-Pay” as of next year’s AGM 

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1


RIGOROUS BOARD COMMITTEE OVERSIGHT 

� Finance and Audit Committee 

– Composed of three non-executive independent members of the Board of Directors 

– Majority of the committee (including chairman) has financial experience 

– Meets at least eight times per year in person or by telephone, and meets with an external auditor (independent of CEO, CFO 

and Head of Company’s Internal Audit) at least once a year 

– Tasks: Oversight of financial planning, budget process and financial objectives, finance policy, operations and risk 

management framework, periodic accounts, audit process, Internal Audit activities, and compliance 

� Compensation Committee 


– Meets at least four times per year 

– Appointed independent compensation consultant in order to benchmark Management and Board remuneration 

– Tasks: Approval of compensation philosophy and components, CEO compensation, matters related to compensation of top 

managers and general employees, benefit policies and HR practices, recommendation of global incentive plans, and 

performance evaluation 

� Nominating and Governance Committee 

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– Meets at least four times per year, and the chairman may invite any persons to attend the meeting at his discretion 

– Tasks: Reviews Board compensation, identifies / reviews / recommends qualified director candidates to the Board, reviews 

directorships and consulting agreements for conflicts of interest, reviews / recommends corporate governance policies and 

principles, and oversees a regular evaluation of the Board of Directors and Company 



1


BOARD OVERSIGHT OF STRATEGY AND FINANCIAL / 

OPERATIONAL PERFORMANCE 

8 

Oversight and 

Benchmarking 

Strategy 

Shareholder 

Feedback 

External 

Analysis 


Board regularly and rigorously reviews and benchmarks 

business, operational, and financial performance 

Board frequently reviews pipeline, competition, assesses the 

M&A environment, evaluates the financial plan and related 

valuation analyses, and determines the best strategy for 

shareholder value 

Board considers input and feedback from shareholders 

Board formally engages financial and legal advisers and 

operational and recruitment / compensation consultants as 

required 

� Board retains independent, external financial advisers 

� Board retains independent external operational and strategy 

consultants to assist in its assessment of the Company’s strategy 

and financial plan 


1

EXPERIENCE AND EXPERTISE 

OVERVIEW OF BOARD OF DIRECTORS 

Name Position Age Nationality Independent Commentary 

Robert E. 

Cawthorn 

Joseph C. 

Scodari 

Jean-Paul 

Clozel 

Juhani 

Anttila 

Carl 

Feldbaum 

Werner 

Henrich 

Michael 

Jacobi 

Armin 

Kessler 

Chairman 75 British 

Vice 

Chairman 

58 American 

Director 55 French 

Director 56 Finnish 

Director 67 American 

Director 67 French 

Director 58 

German & 

Swiss 

Director 72 Swiss 

Jean Malo Director 56 French 

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► Managing Director of Global Health Partners, DLJ Merchant Banking Partners, 1997-2001 

► Chairman and CEO of Rhône-Poulenc Rorer, Inc., 1982-1996 

► President of Biogen Inc., 1979-1982 

► Worldwide Chairman, Pharmaceuticals, member of the Executive Committee and Corporate Officer of Johnson & Johnson, 

2005-2008 

► President and Chief Operating Officer, Centocor, 1998-2001 

► Member of the Board of Directors of the Biotechnology Industry Organization (BIO) in Washington D.C., 2003-2006. Vice 

Chairman of the BIO Board, 2007-2008 

► Founder of Actelion in 1997; CEO of Actelion, 2000-Present 

► Nominated professor at the Collège de France in Paris (Chair of Technical Innovation) in 2007 

► Head of Drug Discovery Group in the Cardiovascular Department of F. Hoffmann-La Roche Ltd, 1985-1997 

► Chairman of Ascom Holding, 2002-Present 

► Managing Partner of ValCrea AG, 2004-Present 

► CEO of the Swisslog Holding Ltd, 1996-2002 

► Chairman of the Executive Board of Nokia (Deutschland) GmbH, Germany, 1990-1995 

► President of the Biotechnology Industry Organization (BIO) in Washington, D.C., 1993-2005 

► Chief of staff to Senator Arlen Specter (D-PA) of Pennsylvania, 1988-1993 

► Various roles within US public administration 

► Chairman of the Board of Directors of Basilea Pharmaceutica AG 

► Former Head of Global Intellectual Property and Licensing, F. Hoffmann-La Roche Ltd, Basel 

► Member of the Board of Directors of Sonova Holding AG and Hilti AG 

► CFO of Ciba Specialty Chemicals Inc., 1996-2007 

► Member of the Board of Directors of The Medicines Co. and Gen-Probe Inc. 

► COO of F. Hoffmann-La Roche Ltd, 1990-1995 

► Founding Partner, Houston Global Investors, LLC 

► Over 30 years of domestic and international investment management experience 


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THE BOARD HAS A WIDE BASE OF COMPLIMENTARY 

EXPERTISE AND CAPABILITIES 

10 

Name 

Robert E. Cawthorn 

Joseph C. Scodari 

Juhani Anttila 

Jean-Paul Clozel 

Carl Feldbaum 

Werner Henrich 

Michael Jacobi 

Armin Kessler 

Jean Malo 

Public Board 

Experience 


Senior Management 

/ Operational 

Experience 

Pharma Sector 

Experience 


Finance 

Legal / MA 

Expertise 

Drug 

Development 

Academic / Medical 

& Scientific 

2 

International 

Markets


EXPERIENCE ACROSS KEY AREAS OF OPERATIONS 

INDUSTRY LEADERSHIP & OPERATING EXPERIENCE 

Robert E. Cawthorn 

– Managing Director, Global Health Partners, DLJ Merchant Bank (1997-2001) 

– Chairman and CEO, Rhône-Poulenc Rorer, Inc. (1982-1996) 

– President, Biogen (1979-1982) 

Armin Kessler 

– COO, Hoffmann-La Roche Ltd, Basel (1990-1995) 

– Director of Syntex, Genentech and F. Hoffmann-La Roche 

– Director of Pharmaceutical Marketing Worldwide, Sandoz 

Juhani Anttila 

– Chairman of the Board of Directors of Ascom Holding, 2002-Present 

– CEO of the Swisslog Holding Ltd, 1996-2002 

– Chairman of the Board of Nokia (Deutschland) GmbH, Germany, 1990-1995 

Joseph C. Scodari 

– Worldwide Chairman, Pharmaceuticals, Johnson & Johnson (2005-2008) 

– President and Chief Operating Officer, Centocor (1998-2001) 

– Member of the Board of Directors of the Biotechnology Industry Organization 

(BIO) in Washington D.C. (2003-2006). Vice Chairman of the BIO Board 

(2007-2008) 

DRUG DEVELOPMENT AND SCIENTIFIC LEADERSHIP 

Jean-Paul Clozel 

– Cardiologist educated in France, with further training in pharmacology and 

physiology at the University of Montreal and the University of California 

– Founder of Actelion (1997); CEO of Actelion (2000-Present) 

– Nominated professor at the Collège de France in Paris (Chair of Technical 

Innovation) in 2007 

– Head of Drug Discovery Group in the Cardiovascular Department of F. 

Hoffmann- La Roche Ltd (1985-1997) 

Joseph Scodari (experience, see above) 

Armin Kessler (experience, see above) 

Werner Henrich (experience, see right box) 

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FINANCIAL EXPERTISE 

Michael Jacobi 

– CFO, Ciba Specialty Chemicals (1996-2007) 

– Various executive financial positions in Switzerland, Brazil, and the US 

– Program for Management Development, Harvard Business School 

– Ph.D. in Business Administration, University of St Gallen 

Jean Malo 

– Founding Partner, Houston Global Investors, LLC 

– Chief Investment Officer, Breen Investors 

– Corporate Banker, Banque Indosuez, Saudi Arabia, Houston, and New York 

– Chartered Financial Analyst 

• Member of the Association for Investment Management Research 

• Houston Society of Financial Analysts 

GOVERNMENT, LEGAL AND INTELLECTUAL PROPERTY 

EXPERTISE 

Carl Feldbaum 

– Founding president of the Biotechnology Industry Organization (BIO), 

Washington, D.C. (1993 -2005) 

– Defense Intelligence Inspector, US Department of Defense (1976-1979) 

– Assistant Special Prosecutor, Watergate prosecution (1973-1975) 

– Law Degree, University of Pennsylvania 

Werner Henrich 

– Former Head of Global Intellectual Property and Licensing, Roche 

– Chemist and European Patent Attorney 

2

FOCUS ON HIGHEST STANDARDS OF 

CORPORATE GOVERNANCE 

ACTELION BOARD MEETS KEY REQUIREMENTS OF THE 

SWISS CODE OF BEST PRACTICE 

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1 Capability to ensure independent decision-making process 

2 Capability to critically exchange ideas with the executive management 

3 

4 

Majority of Board members are independent (i.e. non-executive) and 

have no conflict of interests with the company 

Size of Board should be small enough for efficient decision making and 

large enough to contribute experience / knowledge from different fields 

5 Long-standing international experience if activities of company are international 

6 Term of Board membership should not exceed 4 years 

7 

Board committees should be composed by a majority of independent / 

non-executive members (compensation committee only independent members) 



3 

Actelion Board



ACTELION BOARD MEETS INTERNATIONAL GOVERNANCE 

STANDARDS 

� Rigorous Board committee oversight 

– Finance and Audit Committee 

• In 2010, met eight times either in person or by telephone conference 

– Compensation Committee 

• In 2010, met four times in person 

– Nominating and Governance Committee 

• In 2010, met four times in person 

� Ability to hire outside experts 

– Board formally engages financial and legal advisers and operational and HR / compensation consultants as 

required 

� Corporate governance disclosure in the annual report 

� Long-standing international experience of Board members 

13 

• Experienced Board of Directors, with many years of service as CEOs, CFOs, and COOs of some of the 

world’s most important biotech and pharmaceutical companies 

• Broad range of expertise across industry, drug development, financial and legal areas across the globe 



3



SHAREHOLDER GOVERNANCE STRUCTURE 

� The Board of Directors have no cross-involvement 

� Board members currently stand for re-election on a rolling three year basis 

– However, shareholders can remove any director, even those not standing for 

re-election, at every annual meeting 

� Simple majority required to approve shareholder Agenda items 

� Shareholders may amend the Articles of Association at the Annual Meeting 

� Shareholders may call an extraordinary meeting of shareholders if they 

represent in aggregate 10% of Share Capital 

� Independent Chairman, with fixed-term (current chairman’s term ends in 2012) 

� CEO is only non-independent Board member 

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ACTELION HAS A GOOD TRACK RECORD WITH ISS, 

THE LEADING PROXY ADVISORY SERVICE 

ISS is the leading independent thought leader on global corporate governance best practices 

� At the 2010 AGM, ISS recommended in favor of all three director nominees 

(Werner Henrich, Armin Kessler, Jean Malo) 

– ISS noted that the Company’s Board currently consists of 10 directors and is in majority independent, as 

recommended by the Swiss Code 

– ISS noted that “the board’s committees are composed of a majority of independent non-executive directors. The 

overall level of independence on the board’s committees is in line with best practice for Switzerland” 

� Furthermore, ISS recommended for all four management proposals 

– Accept financial statements and statuary reports: ISS noted that the Company "provided an annual report well in 

advance of the AGM, allowing ISS to include details on important corporate governance indicators 

– Approve allocation of income and omission of dividends: ISS noted that “the company's practice since its IPO in 2000 

has been to omit the payment of a dividend and focus on reinvestment and increasing the value of the company's 

share, and over the past five years, the company's total shareholder return was 136 percent, good enough for third 

amongst companies in the blue chip SMI index. As the company operates in an industry that requires significant 

investment in research and development, we recommend a vote in favor of the allocation of income” 

– Approve discharge of Board and senior management: ISS is not aware of any specific reasons that would merit the 

withholding of discharge for the Board of Directors and senior management for the past financial year 

– Ratify Ernst & Young as auditors 

� At the 2009 AGM, ISS recommended in favor of all four director nominees 

(Robert E. Cawthorn, Joseph C. Scodari, Michael Jacobi, Elias Zerhouni) 

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ACTELION’S CORPORATE GOVERNANCE PROFILE COMPARES 

FAVORABLY WITH U.S. STANDARDS 

16 

Composition 

and role of the 

Board of 

Directors 

General 

requirements of 

shareholder 

approval for 

many corporate 

actions 


► Both US and Swiss major public companies have Boards consisting predominantly of 

accomplished independent directors 

► In the United States, it is virtually universal for the Chief Executive Officer to be a member 

of the company’s Board of Directors. More recently, US companies have faced pressure to 

split the position of the Chairman and the Chief Executive. Those roles have been filled by 

different people at Actelion since inception 

► Under Swiss law, the major strategy decisions are made by the full Board and are not 

delegated to the Chief Executive 

► In line with established international practices and the biotech sector specifically, the CEO is 

a member of the Board 

► In the United States, the types of matters requiring shareholder approval are generally 

limited to the election of directors, approval of mergers and other major corporate 

transactions, approval of equity compensation plans and amendments of organizational 

documents 

► A Swiss company is required to seek shareholder approval for many more actions, including 

declaring dividends and issuing new equity 


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ACTELION’S CORPORATE GOVERNANCE PROFILE COMPARES 

FAVORABLY WITH U.S. STANDARDS 

17 

Shareholder 

power to call 

meetings and 

place items on 

the Agenda 

Shareholder 

ability to replace 

all directors at 

any time 

► Swiss shareholders owning a position of at least two million (1.5%) of the shares in Actelion 

can submit a proposal for adoption at the Annual General Meeting. Swiss law is very flexible 

on the types of matters permitted in these proposals 

► This means that it is much easier for shareholders to submit agenda items for action than it 

is for shareholders to do so in the United States 

► Under Swiss law, directors cannot appoint directors to fill vacancies on the Board. Only 

shareholders can fill vacancies. In the United States, the opposite is generally true – Boards 

fill vacancies 

► Under Swiss law, directors can be removed without cause by a majority of the shares voting 

at the meeting. Removal can occur either at the Annual General Meeting or at a Special 

Meeting called by 10% of the shares. This gives shareholders a powerful tool to assure their 

on-going satisfaction with the Board 

► In the United States, it is unusual for stockholders to be able to force a company to call a 

special meeting. Also, in many cases, removal of a director in the United States requires a 

supermajority vote 

© 2011 Actelion Pharmaceuticals Ltd 08 March 2011 White Paper 

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ACTELION HAS BEEN RECOGNIZED BY THIRD PARTIES FOR ITS 

PRINCIPLES AND EXPERTISE 

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� Actelion named recipient of the 2010 Corporation of the Year Award 

� Jean-Paul Clozel ranked #1 for Biotechnology CEOs in the 2010 

Institutional Investor All-Europe Executive Team awards 

� Andrew J. Oakley ranked #1 for Biotechnology CFOs in the 2010 

Institutional Investor All- Europe Executive Team awards 

� Roland Haefeli ranked #1 for Biotechnology IR professional in the 2010 

Institutional Investor All- Europe Executive Team award 

� Actelion ranked #1 Biotechnology company in the 2010 Institutional 

Investor All-Europe Executive Team award 

� Actelion ranked #3 overall in the 2010 Institutional Investor All-Europe 

Executive Team: Most Honored Companies 


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APPENDIX- 

DIRECTOR BIOGRAPHIES 

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ROBERT E. CAWTHORN – CHAIRMAN 

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� Robert E. Cawthorn is Chairman of the Board of Actelion Ltd and also serves on the 

Boards of certain private companies and not-for-profit institutions. These include The 

March Group, Biodesix and the Bermuda Institute of Ocean Sciences (Trustee Emeritus) 

� Mr. Cawthorn has an extensive experience in corporate Boards both in the US and in 

Europe, where he has put an emphasis on growing the businesses and good corporate 

governance. He has served over the years on the Boards of Biotech, Mid and Large Cap 

Pharma, healthcare services businesses, as well as on the Board of other large 

corporations (examples include Vanguard Mutual Fund Companies, CBS, and Sunoco) 

and banks 

� Mr. Cawthorn has rich experience in running businesses worldwide, particularly in the 

US and Europe. He retired in 2001 as a Managing Director of Global Health Care 

Partners of DLJ Merchant Banking Partners, specializing in private equity investment in 

health care businesses worldwide. He retired as Chief Executive Officer of Rhône- 

Poulenc Rorer Inc. in May 1995 and as Chairman in May 1996, after nearly four decades 

in the pharmaceutical, biotechnology and animal health industries 

� Mr. Cawthorn is generally credited with transforming Rorer from a small, primarily overthe-counter 

pharmaceutical company into a major research-driven pharmaceutical 

company, largely through acquisitions and mergers, culminating in the successful 

merger which created Rhône-Poulenc Rorer in 1990 

� Mr. Cawthorn was an executive with Pfizer International for 17 years and was the first 

president of Biogen Inc. before joining Rorer Group in 1982 

� Mr. Cawthorn has also evaluated and invested in many smaller healthcare companies 

� Mr. Cawthorn is a graduate of Cambridge University, England and lives in Bermuda and 

London, England 


JOSEPH C. SCODARI – VICE CHAIRMAN 

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� Joseph C. Scodari, a citizen of the U.S., was Worldwide Chairman, Pharmaceuticals, 

member of the Executive Committee and Corporate Officer of Johnson & Johnson 

from February 2005 until March 2008. Joe joined Johnson & Johnson in 1999 as 

President of Centocor, Inc. when Johnson & Johnson acquired Centocor. At the time 

of that acquisition, he had been the President and Chief Operating Officer of 

Centocor and a member of Centocor's Board of Directors since December 1997. In 

2001, he was named Company Group Chairman for the North American 

pharmaceutical business, and became a member of the Pharmaceuticals Group 

Operating Committee. In 2003, Joe was named Company Group Chairman, Global 

Biopharmaceutical Businesses 

� Prior to his appointments at Centocor and Johnson & Johnson, Joe was Senior Vice 

President, General Manager – Americas at Rhône-Poulenc Rorer Pharmaceuticals 

Inc. and previously served in various executive positions at Rhône-Poulenc Rorer 

and Sterling Drug Inc. 

� From 2003 to 2006, Joe served on the Board of Directors of the Biotechnology 

Industry Organization (BIO) in Washington, D.C., and served as Vice-Chairman of 

the Board and Member of the Executive Committee from 2007 until February 2008. 

BIO represents more than 1,000 biotechnology companies, academic institutions, 

state biotechnology centers and related organizations in all 50 U.S. states and 33 

other nations. BIO members are involved in the research and development of health 

care, agricultural, industrial and environmental biotechnology products 

� In 2009, Joe won the Hubert J.P. Schoemaker Leadership Award, which recognizes 

the leader in the biosciences community who best exemplifies the spirit of innovation 

in the Commonwealth of Pennsylvania 

� Joe received a Bachelor's of Arts degree from Youngstown State University, 

Youngstown, Ohio, USA. He resides in Pennsylvania, USA 


JUHANI ANTTILA 

22 


� Juhani Anttila has been an active Chairman or Member of the Board at listed 

companies in Zurich, London and Frankfurt since 1996. Previously, he either served 

as Chairman or Member of the Board at Nokia owned companies in Europe for 10 

years 

� Mr. Anttila has 7 years of top executive experience in Germany and has acted for 

some 9 years as a public company CEO in Switzerland. All these companies have 

strong global footprint 

� In 1985, Mr. Anttila was appointed Managing Director of Nokia GmbH, Zurich, and 

responsible for various activities for the Nokia Group. From 1990 until 1995, he 

served as Chairman of the Executive Board of Nokia (Deutschland) GmbH in 

Pforzheim. From 1996 until 2002, Juhani served as CEO of the Swisslog Group. 

Between January 2003 and May 2004, he served as CEO of the Ascom Group. In 

May 2002, he was appointed Chairman of the Board of Directors of Ascom Holding 

Ltd. Since 2005, Juhani holds the position of Managing Partner of ValCrea AG, Zug 

� Mr. Anttila has managed high profile turnaround and strategic re-orientation cases in 

Switzerland, Germany, Holland and Sweden either as Chairman of the Board or as 

CEO. He has also gained vast experience in international M&A transactions in the 

last 30 years 

� He studied law at the University of Helsinki, Finland, before he served as Managing 

Partner at CA Corporate Advisers, Zurich (1981 – 1985) 


JEAN-PAUL CLOZEL 

23 


� Jean-Paul Clozel is a cardiologist educated in France, with further training in 

pharmacology and physiology at the University of Montreal, Canada, and the 

University of California, San Francisco. After eleven years as a clinician, he decided 

to move to applied research. During his 12 years at F. Hoffmann-La Roche Ltd, he 

was responsible for the selection of the first T-channel blocker. He also participated 

in the characterization of renin inhibitors as well as several endothelin receptor 

antagonists such as bosentan and clazosentan. Overall, the group he was heading 

discovered seven compounds that entered clinical trials 

� During his 25-year-career in cardiology, he has published widely in peer-reviewed 

medical and scientific journals. At the same time, his passion has remained 

unchanged: being involved as closely as possible in bringing innovative medicine to 

"his" patients. He has developed various, novel experimental models allowing the 

differentiation of these drugs, work honored with the 1997 Hoffmann-La Roche 

Research Prize. In 2007, he was nominated professor at the Collège de France in 

Paris, France (Chair of Technical Innovation) 

� At the end of 1997, Jean-Paul founded Actelion, together with his wife, Martine, and 

work colleagues and friends Walter Fischli, Thomas Widmann and André J. Mueller. 

First mainly focusing on Research and Development, he became CEO of the 

company to bring Actelion to the public in April 2000 

� A key achievement of Jean-Paul is building Actelion from a start-up to a multi-billion 

market capitalization company in a highly competitive and complex sector. Jean-Paul 

has been the driving force that enabled Actelion to become one of the biotechnology 

industry’s most recognized global success stories 


CARL FELDBAUM 

24 


� After receiving a bachelor's degree in biology from Princeton University and a law 

degree from the University of Pennsylvania Law School, Carl Feldbaum went to 

Washington D.C. in 1973 as an assistant special prosecutor for the Watergate 

special prosecution force 

� Carl was the founding president of the Biotechnology Industry Organization (BIO) in 

Washington, D.C. from its founding in 1993 to January 2005. The BIO represents the 

biotechnology community in government affairs, legislation, regulatory reform, 

communications and business development. The BIO became the world's largest 

association of biotechnology companies during Carl’s 12-year tenure as its leader 

� In 2001, Mr. Feldbaum was elected by over 200 biotech CEOs to the Biotechnology 

Hall of Fame 

� Earlier roles concluded president and founder of the Palomar Corporation, a national 

security "think tank" in Washington, D.C. He also served as assistant to the 

Secretary of Energy and as the Inspector General for defense intelligence in the U.S. 

Department of Defense 

� In 1979, Carl was awarded the Distinguished Civilian Service Medal by Defense 

Secretary Harold Brown 


WERNER HENRICH 

25 


� Werner Henrich was born 1943 and is a French citizen. His educational background 

is as a chemist and European patent attorney 

� Werner worked for F. Hoffmann-La Roche Ltd in Basel for more than 30 years, 

where he held various positions, including Head of Global Intellectual Property and 

Pharmaceutical Licensing for more than 12 years. He was also a member of the 

Roche Pharmaceutical Division Executive Board. In this capacity, Werner was 

responsible for the intellectual property activities of all Roche divisions, and for major 

pharmaceutical transactions including research collaborations, patent settlements, 

licensing-in and -out, and product acquisitions. He retired from Roche in November 

2003. Werner has wide experience in the pharmaceutical industry, both with startups 

and large pharmaceutical companies 

� In 2010, Werner contributed, as its Chairman, to the acquisition of Preglem in 

Geneva by Gedeon Richter 

� Werner is Chairman of the board of Basilea Pharmaceutica Ltd and a member of the 

board of directors of Actelion Ltd, Allschwil and Addex Pharmaceuticals Ltd, Geneva, 

Swiss biopharmaceutical companies listed on the SWX Swiss Exchange. He acts as 

a consultant for several biopharmaceutical companies on a part-time basis 


MICHAEL JACOBI 

26 


� Dr. Michael Jacobi, a German citizen, was Chief Financial Officer at Ciba 

Specialty Chemicals Inc. from 1996 until 2007. Michael joined the Ciba Group 

in 1978 and subsequently held various executive positions in the financial area 

in Switzerland, Brazil and the U.S. 

� Since 2003, Michael serves on the Board of Directors of Sonova Holding AG, 

formerly Phonak AG, since 2004 as the Head of the Audit Committee. Sonova, 

located in Staefa/Zurich, is a leading provider of innovative hearing healthcare 

solutions and the market leader in wireless communication systems for 

audiology applications. Furthermore, Michael serves on the Board of Directors 

of Hilti AG since 2007. Hilti, located in Schaan (Liechtenstein), provides 

leading-edge technology to the global construction industry. Since 2008, 

Michael is also a member of the Board of Trustees of the Martin Hilti Family 

Trust 

� In 2004, he was elected best CFO of the European Chemical industry by 

Institutional Investor 

� In 1999 he won the European CFO excellence award 

� Michael received a PhD in Business Administration from the University of St. 

Gallen (HSG), St. Gallen, Switzerland, continued his studies at the University 

of Washington, Seattle, USA, and completed a Program for Management 

Development at Harvard Business School, Boston, USA 


ARMIN KESSLER 

27 


� Armin Kessler received a degree in Physics and Chemistry from Pretoria University 

in South Africa, a degree in Chemical Engineering from the University of Cape Town, 

South Africa, a Juris Doctorate from Seton Hall University, New Jersey, and Dr. h.c. 

in Business Administration from the University of Pretoria 

� Armin served as Chief Operating Officer of F. Hoffmann-La Roche Ltd in Basel 

Switzerland from 1990 to 1995. Prior to being appointed COO, he held several senior 

positions at Roche, including head of the pharmaceutical and diagnostic divisions. 

Earlier positions in his career include Director of Pharmaceutical Marketing 

Worldwide for Sandoz (now Novartis), and President of Sandoz KK in Tokyo 

� From 1992 to 1995, Armin was President of the European Federation of 

Pharmaceutical Industry Associations (EFPIA) 

� He currently serves on the board of The Medicines Company and Gen-Probe, and 

has served on the boards of F. Hoffmann-La Roche, Syntex and Genentech 


JEAN MALO 

28 


� Jean Malo received an MBA from Essec, Paris France, in 1977. He is a Chartered 

Financial Analyst, and a member of the Association for Investment Management and 

Research, and the Houston Society of Financial Analysts 

� Jean joined Breen Investors L.P., a Houston-based investment advisor, in 2000 

where he served as a Senior Partner and Chief Investment Officer until 2008. He 

was Chief Investment Officer for Vaughan Nelson Scarborough and McCullough, a 

Houston-based affiliate of Metropolitan Life, managing $5 billion of assets between 

1997 and 2000 

� From 1989 to 1997, Jean managed both equity and fixed income portfolios for Daniel 

Breen and Company, an affiliate of Banque Indosuez (a French merchant bank), in 

Houston. From 1978 to 1989, he was a corporate banker for Banque Indosuez in 

Saudi Arabia, then in Houston, and finally in New York, where he was in charge of 

fixed income derivatives sales. Between 1977 and 1978, he was a financial analyst 

at the French Embassy in Singapore

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