Tokyo, Japan and London, UK, 12 December 2018 – Sosei Group Corporation (“the Company”; TSE: 4565), today announced that its Board of Directors, at a meeting held on 11 December 2018, approved a change in its President & Chief Executive Officer (CEO) as stated below.
1. Reason for the Change
It was decided by mutual consent that Mr. Peter Bains will step down as President & CEO of the Company on 31 December 2018. Mr. Bains will also resign as a Director of the Company simultaneously.
Mr. Shinichi Tamura, Executive Chairman, founder and former CEO of Sosei, has been appointed as Chairman, President & CEO effective as of 1 January 2019. The re-appointment of Mr. Tamura as CEO provides a seamless transition that enables the Company to continue pursuing its strategic plan, aiming to realize its vision to be a leading Japan-based biotech champion delivering innovative medicines for patients worldwide. We will continue to invest in R&D and promote our leading scientific platform, portfolio and business globally. Our strategic decisions will place our Japanese and global investors top-of-mind, to maximize shareholder value.
2. Content of the Change
|New position||Name||Previous position|
|Chairman of the Board, Representative Executive Officer, Chairman, President and Chief Executive Officer||Shinichi Tamura||Chairman of the Board, Representative Executive Officer and Executive Chairman|
|Peter Bains||Director, Representative Executive Officer, President and Chief Executive Officer|
3. Effective date of the Change
31 December 2018
Mr. Tamura said: “On behalf of the Board, I would like to thank Peter for all his hard work and enthusiasm in leading the company over the past couple of years and wish him well in his future endeavours. As a Board member, Peter was instrumental in the acquisition of Heptares Therapeutics in February 2015, which has transformed the company and its prospects. While CEO, he has played a key role in the integration of Heptares and the further development of the overall Sosei Heptares business. We are well positioned to execute on our strategy to pursue profitability and advance our partnered and in-house pipelines and I look forward to announcing further progress in the future.”
Curriculum Vitae of new Representative Executive Officer, Chairman, President and CEO
|Apr. 1978||Joined Fujisawa Pharmaceutical Co., Ltd. (now Astellas Pharma Inc.)|
|Feb. 1987||Moved to Genentech Limited|
|Jul. 1989||Representative Director & President, Genentech Limited|
|Jun. 1990||Representative Director & CEO, Sosei Group Corporation|
|Jun. 2005||Board Director, Representative Executive Officer, President, CEO of Sosei Group Corporation|
|Mar. 2012||Managing Director, Sosei R&D Limited|
|Jun. 2016||Chairman of the Board, Representative Executive Officer and Executive Chairman of Sosei Group Corporation (to the present)|