[THE INVESTOR] Celltrion has dropped its dual-CEO structure, making Kee Woo-sung sole chief executive and naming Kim Hyoung-ki to head its global marketing arm Celltrion Healthcare to strengthen its footings in overseas markets, the company said on March 7.
The two CEOs of Celltrion, Kee and Kim, whose current terms expires in March, have been promoted as vice chairman of Celltrion and Celltrion Healthcare, respectively.
Celltrion Vice Chairman and CEO Kee Woo-sung (left) and Celltrion Healthcare Vice Chairman and CEO Kim Hyoung-ki
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.
“The reshuffle is aimed at fostering the two firms, which are in the expansion phase, to a global enterprises by positioning executives in the right place where they can concentrate more on their areas of expertise,” Celltrion said in a statement.
Celltrion Healthcare, which was an in-house sales unit of Celltrion, was spun off as a separate firm in 2010 and went public in July last year.
Kee, 57, who has been spearheading production, quality and clinical licensing-related business, will continue in his position to push Celltrion’s future plans including the construction of its first overseas production plant as well as biosimilar and new drug pipeline development.
Moving to Celltrion Healthcare, 53-year-old Kim will focus on business strategies and finance to bolster overseas marketing and distribution work as a series of biosimilar products developed by Celltrion have started to reach larger markets like the US and Europe. The company said it will accelerate building direct sales networks in foreign markets, departing from the current strategy depending on local marketing partners who are mainly drug makers.
With the reshuffle, Celltrion Healthcare will have two CEOs. Former Celltrion CEO Kim Hyoung-ki and Kim Man-hoon, who will keep his job as Celltrion Healthcare’s president and CEO to extend his tenure in office.
By Park Han-na (firstname.lastname@example.org)