May 09, 2024

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[THE INVESTOR] The chief executives of  Celltrion, whose terms expire in March, are expected to continue in their position, according to Yonhap News Agency.

Kee Woo-sung and Kim Hyoung-ki are likely to keep their jobs as Celltrion’s co-presidents and CEOs, extending their tenure in office. 

Celltrion co-CEOs Kee Woo-sung and Kim Hyoung-ki

“The co-CEO system under Kim and Kee will continue. There will be no reshuffle to replace CEOs as far as I know,” an official at Celltrion was quoted as saying.

Both the chiefs were appointed in 2015 following the company’s founder and chairman Seo Jung-jin’s departure to step aside for more professional management.

CEOs at pharmaceutical and biotechnology firms are staying in their jobs relatively longer than other sectors as they have to make strategic management decisions which require long-term tactics to align with pharma’s characteristically long development time.

Kim has been in charge of business management, finance, research and development while Kee’s role is focused on production, quality and clinical licensing-related work. The duo’s current term ends on March 27.

Over the past two years, the co-CEO’s have strengthened their internal position and earned the chairman’s confidence by having secured its biosimilar Remsima’s advancement into the US.

Remsima is a copycat of Johnson & Johnson’s top drug Remicade developed by Celltrion.

By Park Han-na (hnpark@heraldcorp.com)