Takeda Pharmaceutical said on Thursday its CEO Christophe Weber will retire after more than a decade at the helm of Japan's biggest drugmaker as the company upped its full-year profit outlook. Julie Kim,

Christophe Weber will step down as CEO of Takeda next year, the company announced, following a dropoff in its share price over the last couple of years.

Takeda Pharmaceutical Co.’s board has selected Julie Kim, the head of the company’s US unit, to replace Christophe Weber as the drugmaker’s new chief executive officer.