Biocon Board appoints Peter Bains as Group CEO

Biocon Ltd (BSE code: 532523, NSE: BIOCON), an innovation-led global biopharmaceuticals company, announced today, that its Board has approved the appointment of Mr Peter Bains as the Group CEO, with effect from September 18th, 2023. He will be reporting directly to Biocon Group Chairperson, Ms Kiran Mazumdar-Shaw.

Prior thereto Mr. Bains has stepped down from his role on the Biocon Board as an Independent Director with immediate effect, to assume this strategic executive responsibility.

Welcoming this appointment, Ms Kiran Mazumdar-Shaw said: "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 and Jonathan 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.

I am confident that this appointment will serve the integrated business objectives of the Biocon Group of companies and deliver added value to all stakeholders."

Shares of Biocon Limited was last trading in BSE at Rs. 273.05 as compared to the previous close of Rs. 276.85. The total number of shares traded during the day was 179521 in over 3578 trades.

The stock hit an intraday high of Rs. 278.40 and intraday low of 272.00. The net turnover during the day was Rs. 49480495.00.

Source : Equity Bulls

Keywords

Biocon INE376G01013 Appointment GroupCEO