AMGN - Quick Take - Retiring CFO Triggers Disciplined C-Suite Transition in a Year of Disciplined Data Generation

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AMGN - Quick Take - Retiring CFO Triggers Disciplined C-Suite Transition in a Year of Disciplined Data Generation

Truist Securities

Equity Research Report May 19, 2026

HEALTHCARE: Biotech Amgen Inc. (AMGN)

AMGN - Quick Take - Retiring CFO Triggers Disciplined C-Suite Gregory Renza, M.D.

212-419-4617 Transition in a Year of Disciplined Data Generation

Gregory.Renza@truist.com

Anish Nikhanj, Ph.D. After the close, AMGN announced the retirement of Chief Financial Officer, Peter

212-326-3106 Griffith, age 67, who has served as EVP and CFO of the company since January 2020.

Anish.Nikhanj@truist.com Mr. Griffith, who's retirement is effective as of August 31, will be succeeded by Thomas

Dittrich, age 62, former CFO of Swiss skincare company, Galderma (SIX: GALD, NR) and

Supawat Thongthip, Ph.D. an AMGN alum, who will join the company as EVP on July 1, and formally succeed Mr.

212-401-4429 Griffith as CFO effective September 1. As part of today's release and 8-K filing, AMGN notes

Supawat.Thongthip@truist.com that Mr. Griffith will support the announced appointment through transition until January 31,

2027. We had a change to catch up with AMGN on the news for more color.

We note that Mr. Dittrich's resignation from GALD was announced back on July 1,

Current Price (May 19, $330.75 2025, "to pursue another senior executive opportunity outside the organization,"

2026) staying on through 2Q26 as part of an executive transition; to us, this would suggest

Stock Rating HOLD a process by AMGN to seek a successor dating back to mid-last year. Though Mr. Griffith is definitively retirement-eligible, we note this shift to be ongoing during a time of Unchanged

elevated attention by investors on the company's financial execution in BD transactions, and