“Biocon Appoints Peter Bains as Group CEO, Strengthening Strategic Leadership”

Biocon, a prominent player in the biopharmaceutical industry, has announced the appointment of Peter Bains as the Group CEO, effective immediately. This strategic decision was ratified by the Biocon Board on September 18, and Peter Bains will be directly reporting to Kiran Mazumdar-Shaw, the Chairperson of the Biocon Group.

In conjunction with his new role, Peter Bains has stepped down from his position as an Independent Director on the Biocon Board, assuming this vital executive responsibility to lead the Biocon Group.

Expressing her enthusiasm about this appointment, Kiran Mazumdar-Shaw stated, “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, and Jonathan Hunt, CEO & MD Syngene International Limited, will continue to have independent charge of their businesses and will collaborate with Peter to bolster synergistic strategic leadership at a Group level, thereby maximizing the combined value of all three businesses.”

Kiran Mazumdar-Shaw emphasized Peter Bains’ suitability for the role, citing his extensive global leadership experience and remarkable success in the biopharmaceutical sector. His in-depth understanding of the Biocon Group is underscored by his five-year leadership of Syngene, a subsidiary of Biocon, which he guided through a highly successful IPO in 2015.

She expressed confidence in the appointment’s ability to align with the integrated business objectives of the Biocon Group and deliver enhanced value to all stakeholders.

On the stock market front, Biocon’s shares concluded the day with a 1.37 percent decline, closing at Rs 273.05 on the BSE. As Peter Bains assumes his new role as Group CEO, the biopharmaceutical industry anticipates notable developments and strategic advancements under his leadership.

Sources By Agencies

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