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

Prior thereto 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, 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."