Roche hires finance head Hippe from ThyssenKrupp

OUTGOING ThyssenKrupp finance chief and turnaround expert Alan Hippe will take control of Roche’s coffers as the Swiss drugmaker seeks to get rid of debt and embarks on cost cuts after product setbacks.

Hippe, familiar with the tough business environments of the steel and auto sectors, is joining Roche as the pharma industry faces some of its toughest challenges and as the group tries to reduce debt after its Genentech buyout.

Hippe, 44, will become a member of Roche’s corporate executive committee in April, Roche said yesterday, joining from Europe’s largest stainless steel company, where he was credited with its successful restructuring.

He joined ThyssenKrupp from German autosupplier Continental.