Business
CEO Retirement and Appointment of Successor
CEO Retirement and Appointment of Successor.
About this update from Genus Plc
[{"type":"text","content":"\n \nRNS Number : 2162H Genus PLC 25 May 2011 \n \n\n\n\n\n\nFor Immediate Release\n\n\n 25 May 2011\n\n\n\n\n \n \n \n \n \n \nGenus plc\n(\"Genus\" or the \"Company\")\n \nCEO Retirement and Appointment of Successor\n \n \nThe Board of Genus, a leading global animal genetics company, announces the retirement of Richard Wood as CEO and is pleased to appoint Karim Bitar as CEO designate. Karim Bitar has over 15 years experience with Eli Lilly and Company (\"Lilly\") and is currently President of Lilly Europe, Canada and Australia. \n \nRichard Wood will leave the Company on 30 September 2011 after handing over to Karim Bitar who will join Genus and the Board on 1 September 2011 and become Chief Executive on Richard's departure.\n \nRichard has led Genus as CEO for over 14 years. During this period Genus has been transformed from a small UK operation into a truly global business with growth driven by its in-house research and development and worldwide distribution. Now holding a market leading position, Genus operates in over 70 countries spanning six continents. Notable achievements in this evolutionary process have been the successful IPO on OFEX in 1997, the acquisition of ABS Global Inc in 1999, a move to AIM in 2000, the acquisition of Sygen International plc in 2005 and following a full listing in 2007, Genus becoming a FTSE250 company.\n \nKarim, aged 46, has extensive knowledge of the biotech market and an intimate knowledge and understanding of delivering results across continents. He joined Lilly in 1996 and became President of European operations in 2008. He subsequently helped Lilly to become one of the top growth pharmaceutical companies in Europe. Prior to this, Karim was President and General Manager of Lilly Italy, where he transformed the Italian business into one of the fastest growing pharmaceutical companies in Italy delivering double digit profit growth. Karim also held positions in Lilly of Executive Director of G...