Biocon names Peter Bains as group CEO, will report to Kiran Mazumdar-Shaw
'Peter has a comprehensive understanding of the Biocon Group, having led Syngene for 5 years, taking it through its very successful IPO in 2015,' says Mazumdar-Shaw
- Sep 18, 2023,
- Updated Sep 18, 2023 8:20 PM IST
Drugmaker Biocon Ltd on Monday appointed Peter Bains as the group's chief executive officer, with immediate effect.
Bains, who was named as an independent director of the Biocon board in December last year, stepped down on Monday to assume the top charge, the company said in a stock exchange filing.
"Biocon is entering a dynamic phase of growth for its 3 core businesses, Biocon Biologics, Biocon Generics and Syngene, and for the Group as a whole. I am delighted to welcome Peter to the Biocon Group in the role of Group CEO. Siddharth Mittal, CEO & MD Biocon Limited, Shreehas Tambe, CEO & MD Biocon Biologics Limited andJonathan Hunt, CEO & MD Syngene International Limited will continue to have independent charge of their businesses and will work with Peter to strengthen synergistic strategic leadership at a Group level to maximise the combined value of all 3 businesses.
"Peter has a unique fit and profile for the role having both extensive global leadership experience and success across the biopharmaceutical field and a comprehensive understanding of the Biocon Group, having led Syngene for 5 years, taking it through its very successful IPO in 2015," said Kiran Mazumdar-Shaw, Biocon group chairperson.
Bains, the first-ever group CEO, will report directly to Mazumdar-Shaw, the statement added.
A graduate of the University of Sheffield in the UK, Bains was associated with Biocon's research unit Syngene International from 2010 to 2016, according to the company website.
He was named Syngene's CEO in April 2015, before retiring from the post a year later.
On Monday, Biocon's scrip on BSE closed 1.37% lower at Rs 273.05.
Drugmaker Biocon Ltd on Monday appointed Peter Bains as the group's chief executive officer, with immediate effect.
Bains, who was named as an independent director of the Biocon board in December last year, stepped down on Monday to assume the top charge, the company said in a stock exchange filing.
"Biocon is entering a dynamic phase of growth for its 3 core businesses, Biocon Biologics, Biocon Generics and Syngene, and for the Group as a whole. I am delighted to welcome Peter to the Biocon Group in the role of Group CEO. Siddharth Mittal, CEO & MD Biocon Limited, Shreehas Tambe, CEO & MD Biocon Biologics Limited andJonathan Hunt, CEO & MD Syngene International Limited will continue to have independent charge of their businesses and will work with Peter to strengthen synergistic strategic leadership at a Group level to maximise the combined value of all 3 businesses.
"Peter has a unique fit and profile for the role having both extensive global leadership experience and success across the biopharmaceutical field and a comprehensive understanding of the Biocon Group, having led Syngene for 5 years, taking it through its very successful IPO in 2015," said Kiran Mazumdar-Shaw, Biocon group chairperson.
Bains, the first-ever group CEO, will report directly to Mazumdar-Shaw, the statement added.
A graduate of the University of Sheffield in the UK, Bains was associated with Biocon's research unit Syngene International from 2010 to 2016, according to the company website.
He was named Syngene's CEO in April 2015, before retiring from the post a year later.
On Monday, Biocon's scrip on BSE closed 1.37% lower at Rs 273.05.