Peter Bains, a member of Biocon Ldt's Board of Directors, was chosen as the company's new group CEO.

With immediate effect, Bains has resigned from his position as an independent director on the Biocon board in order to take on this strategic managerial responsibility.

He will answer directly to Kiran Mazumdar-Shaw, the chairwoman of Biocon Group.

She claimed that both the group as a whole and its three main companies, Biocon Biologics, Biocon Generics, and Syngene, are entering a dynamic phase of expansion.

"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 five years and taking it through its very successful IPO in 2015," Shaw said.

In terms of strategic and operational leadership, he has more than 30 years of expertise on a worldwide scale, including at the board, CEO, and senior corporate levels. In almost six years starting in 2010, he guided Syngene International Ltd, a corporate subsidiary, to a successful public listing in 2015 while serving on the board and as CEO of the organization.

Bains had previously held the position of CEO of the bio-pharmaceutical company Sosei Group, which was listed in Japan. Prior to that, he spent 23 years working for GlaxoSmithKline, where he held a number of positions, including senior vice-president of commercial development for GSK's worldwide region and head of global marketing.

He currently serves as a non-executive director on the boards of Indivior PLC, a privately held Scottish biotechnology company, Apterna, a privately held UK biotech company, MiNA Therapeutics, a privately held UK biotech company, and Indivior PLC, a UK FTSE listed pharmaceuticals company.

This appointment comes at a crucial time for Biocon as its three primary businesses—Biocon Biologics, Biocon Generics, and Syngene—enter an era of dynamic growth.

Kiran Mazumdar-Shaw stated that Siddharth Mittal, Shreehas Tambe, and Jonathan Hunt, the CEO and MD of Biocon, Biocon Biologics, and Syngene International, respectively, will continue to be in charge of their respective companies independently and will collaborate with Peter Bains to improve synergistic strategic leadership at the corporate level.

"Peter has a unique fit and profile for the role having both extensive global leadership experience and success across the bio-pharmaceutical field and a comprehensive understanding of the Biocon Group, having led Syngene for five years, taking it through its very successful IPO in 2015," Mazumdar-Shaw added.