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Business News/ Companies / People/  Biocon ropes in Peter Bains as group CEO

Biotechnology major Biocon Ldt, on Monday, appointed its Board of Director member, Peter Bains, as its new group Chief Executive Officer.

To takeover the position, Peter Bains, stepped down from his role as non-executive independent director from the Board of Biocon Ltd with with immediate effect.

Also Read: Serum Institute to invest $300 mn in Biocon's unit, provide access to 100 mn vaccine doses annually

“Consequently, he has also ceased to be a member of the audit committee, risk management committee and stakeholders relationship committee of the company," said the company in its stock exchange filing. Biocon shares closed 1.37% down at 273.05 per share on BSE on Monday. 

Also Read: Improved traction in tech deal wins helps, but not by much

“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," Biocon CEO Kiran Mazumdar Shaw said in a statement.

Also Read: Dabur needs to power up its plan 

"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," said Shaw in a statement.

About Peter Bains

He has over 30 years of experience in strategic and operational leadership, including at board, CEO and senior corporate levels. He served as CEO and on the Board of Syngene International Ltd, a subsidiary of the company, for almost 6 years from 2010, and led the company to its successful public listing in 2015, Biocon said. 

During his tenure in Syngene, he took the firm through its IPO in 2015. He had also served as CEO of Sosei Group, which is a Japanese-listed biopharmaceutical company. Before taking the position, Peter had also worked with GlaxoSmithKline over a period of 23 years. During his tenure in the company he held several roles, including head of global marketing and senior vice-president of commercial development for GSK's International region.

Currently, Peter Bains also served as the non-executive director on the Board of Indivior PLC, a UK FTSE listed pharmaceuticals company, MiNA Therapeutics, a privately held UK biotech company, and non-executive Chairman of ILC Therapeutics.

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Updated: 18 Sep 2023, 10:41 PM IST
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