Bengaluru: Biotechnology major Biocon's
Chief Financial Officer Siddharath Mittal took over as its new CEO and
Joint Managing Director on Tuesday.
"Mittal took over from Arun
Chandavarkar, who retired on November 30 after 29 years of service to
the evolution and success of the company," said the city-based Biocon in
Mittal has been a member of the leadership team
since May 2013 and played an instrumental role in the restructuring of
the company's biosimilars business into Biocon Biologics to unlock value
for its shareholders, it said.
He served as the company's CFO since August 2014.
leadership, understanding of the business, financial insights and
operational experience make him fit for the CEO role to lead the company
through its next growth phase," said Biocon Chairperson Kiran
Mittal has over two decades of experience in
management, strategic finance and accounting, mergers and acquisitions
"As an innovation-led bio-pharmaceuticals company,
Biocon is at an inflection point to create value for shareholders by
unlocking the potential of its business segments. Post the creation of
Biocon Biologics as a subsidiary, I look forward to generating value for
stakeholders by focusing on small molecules business and strengthen
portfolio of APIs and generic formulations in global markets," said
Mittal in the statement.