Summary
Amgen Inc. has announced a significant leadership transition in its finance department. Peter H. Griffith, the current Executive Vice President and Chief Financial Officer (CFO), will retire from his executive role effective August 31, 2026. He will remain with the company in a non-executive officer capacity until January 31, 2027, to ensure a smooth handover and will receive his entitled retirement benefits. The company has appointed Thomas Dittrich, age 62, as the new Executive Vice President and CFO, effective September 1, 2026. Mr. Dittrich will initially join Amgen in a non-executive role from July 1, 2026, to August 31, 2026, based in Rotkreuz, Switzerland, before relocating to Thousand Oaks, California. Mr. Dittrich brings extensive financial leadership experience from his previous roles, including CFO at Galderma Group AG and Shire Pharmaceuticals, and notably, he previously worked at Amgen in senior finance positions.
Key Highlights
- 1Peter H. Griffith is retiring as CFO effective August 31, 2026, with a transition period until January 31, 2027.
- 2Thomas Dittrich appointed as the new Executive Vice President and Chief Financial Officer, effective September 1, 2026.
- 3Mr. Dittrich will have an initial non-executive role from July 1, 2026, to August 31, 2026.
- 4Mr. Dittrich's compensation package includes a substantial base salary (CHF 1,070,000), annual incentive targets, and significant long-term equity awards (options, RSUs, performance units) totaling CHF 4,500,000 for fiscal 2026.
- 5To compensate for foregone compensation, Mr. Dittrich will receive a one-time RSU award (CHF 4,700,000) and a one-time cash bonus (CHF 4,000,000).
- 6A two-year retention bonus of CHF 5,800,000 is also included, subject to repayment if Mr. Dittrich resigns or is terminated for cause within two years.
- 7Mr. Dittrich has prior experience at Amgen, serving as VP of Finance Corporate Planning and Chief Accounting Officer.