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Biocon elevates Siddharth Mittal as CEO and joint MD

Mittal takes over from Arun Chandavarkar who retired as chief executive and joint MD of the company on November 30.

ET Bureau|
Updated: Dec 03, 2019, 05.04 PM IST
Mittal has been serving as Chief Financial Officer (CFO) of Biocon since August 2014, a filing by Biocon said.
BENGALURU: Biocon has elevated Siddharth Mittal as the chief executive officer and joint managing director with effect from December 1. Mittal, a core member of the leadership team at Biocon since May 2013, has been the chief financial officer of the biotech company since August 2014.

Mittal took over from Arun Chandavarkar who retired as chief executive officer & joint managing director of Biocon last month, after spending 29 years.

“Siddharth (Mittal)’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,” said Kiran Mazumdar-Shaw, chairperson and managing director, Biocon, welcoming the new CEO.

Mittal 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, said the company in a press release.

“He also played a pivotal role in managing global collaborations,” said Biocon, adding that as the CFO, Mittal has successfully created “a compelling shareholder value proposition for the company during the last 6 years, including value unlocking of Syngene which was listed on the Indian capital markets in 2015.
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