Bengaluru: Biocon Ltd, an innovation-led global biopharmaceuticals company, announced that Siddharth Mittal has taken over as Chief Executive Officer & Joint Managing Director of the Company starting December 1, 2019.
Mr. Mittal takes over from Dr. Arun Chandavarkar who retired as Chief Executive Officer & Joint Managing Director of Biocon on November 30, 2019, after 29 years of outstanding contribution to the evolution and success of Biocon. Mr. Mittal has been serving as Biocon’s Chief Financial Officer (CFO) since August 2014.
Welcoming
Mr. Mittal, Kiran Mazumdar-Shaw, CMD, Biocon, said, “I am very pleased to
welcome Siddharth as CEO & Joint MD of Biocon. Siddharth’s strong
leadership qualities, comprehensive understanding of various aspects of the
business, deep financial insights and robust operational experience make him an
excellent fit for the role of CEO to lead Biocon through its next phase of
growth. I am confident that in this new role he will build immense value for
Biocon and its stakeholders.”
Siddharth Mittal, CEO & Joint Managing Director, Biocon, said: “I am
honoured to take over as the CEO & Joint MD of Biocon, which has a strong
legacy as an innovation-led biopharmaceuticals company. It is at an inflection
point where it is well positioned to create value for its shareholders by
unlocking the potential of various business segments. Post the creation of
Biocon Biologics as a wholly owned subsidiary, I now look forward to generating
value for our stakeholders by focusing on our Small Molecules business with an
aim to further strengthen our portfolio of complex APIs and Generic
Formulations in key global markets.”
Mr.
Mittal has been a core member of the leadership team at Biocon since May 2013
and has played an instrumental role in the biosimilars success story so far
including restructuring of the biosimilars business into Biocon Biologics with
an objective to unlock value for Biocon’s shareholders. He also played a
pivotal role in managing global collaborations. As the CFO, he has successfully
created a compelling Shareholder Value Proposition for Biocon over the last 6
years, including value unlocking of Syngene which was listed on the Indian
capital markets in 2015.
He has over 20 years of global and diversified experience in the fields of
general management, strategic finance and accounting, mergers and acquisitions,
taxation etc.
