Biocon Ltd, a leader in biotechnology, has announced the appointment of Peter Bains as the company’s Group Chief Executive Officer, effective immediately.
Bains, who had been serving as an independent director on the Biocon board since December of the previous year, resigned from that role on Monday to assume his new position, as indicated in a stock exchange filing by the company.
Biocon is currently entering a phase of dynamic growth for its three core businesses: Biocon Biologics, Biocon Generics, and Syngene. In light of this, Peter Bains has been welcomed to the Biocon Group as the Group CEO. The current CEOs and Managing Directors of Biocon Limited, Biocon Biologics Limited, and Syngene International Limited, namely Siddharth Mittal, Shreehas Tambe, and Jonathan Hunt, respectively, will retain independent charge of their respective businesses. They will collaborate with Peter Bains to strengthen synergistic strategic leadership at the Group level to maximize the combined value of all three businesses.
Kiran Mazumdar-Shaw, Biocon Group Chairperson, expressed enthusiasm about Peter’s appointment, noting his extensive global leadership experience and success in the biopharmaceutical field. Peter Bains also has a comprehensive understanding of the Biocon Group, as he previously led Syngene for five years, successfully overseeing its IPO in 2015.
Peter Bains, in his role as the first-ever Group CEO, will report directly to Kiran Mazumdar-Shaw, according to the statement.
Peter Bains is a graduate of the University of Sheffield in the UK and was associated with Biocon’s research unit, Syngene International, from 2010 to 2016, as per the company’s website. He served as Syngene’s CEO in April 2015 before retiring from the post a year later.
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