Business
Alvotech Expands its Board of Directors as part of Transition from Private to Publicly Traded Company
Four new members enhance independence and diversity of Board of Directors Alvotech (NASDAQ and First North Growth Market: ALVO), a global biotech company
About this update from Alvotech
[{"type":"text","content":"Four new members enhance independence and diversity of Board of Directors Alvotech (NASDAQ and First North Growth Market: ALVO), a global biotech company specialized in the development and manufacture of biosimilar medicines for patients worldwide, today announced the expansion of its board of directors as part of its transition from a private to a publicly traded company. The four incoming board members, Lisa Graver, Arni Hardarson, Linda McGoldrick and Ann Merchant joined Robert Wessman, founder and Executive Chairman, Richard Davies, Tomas Ekman and Faysal Kalmoua. Ms. Merchant, Ms. McGoldrick, and Mr. Davies serve as independent directors of the board. “I am delighted to welcome our new members of our board at a crucial time in our evolution,” said Robert Wessman, Executive Chairman and founder of Alvotech. “The scientific expertise, operational experience, and capital markets acumen of the new board members will be important in supporting our mission to enhance the sustainability of the global healthcare system by expanding access to biologic medicines.” Robert Wessman founded Alvotech in 2013 and has served as Chairman of the Board of Directors since 2019. He is also Chairman of the board of directors of Alvogen and Lotus Pharmaceuticals and serves as a board member at Fuji Pharma Co. Ltd. Prior to founding Alvotech, Mr. Wessman as CEO led Actavis, a small domestic pharmaceutical company, into a global generics company. He then founded Alvogen, transforming it from a CMO into a global generics company and has served as Alvogen’s CEO and Chairman. Mr. Wessman is also a partner in the Aztiq Group (“Aztiq”). He has a BS degree in Business Administration from the University of Iceland. Richard Davies currently serves as Deputy Chairman of the Board of Directors for Alvotech and Chairman of the Remuneration Committee. He also currently serves as CEO of Auregen Bio Therapeutics, and previously served as CEO of Bonesupport, Senior VP and CCO of Hospira and in various leadership roles at Amgen. Mr. Davies holds a BS degree in applied chemistry from the University of Portsmouth and an MBA from the University of Warwick. Linda McGoldrick serves as Chairman of Alvotech’s Board of Directors’ Audit Committee. She has served in numerous management and non-executive director roles in the healthcare and life sciences industries, internati...