Kiran Mazumdar Shaw's husband John Shaw retires from Syngene board, his work appreciated

In a key development, Biopharma company Syngene International's non-executive, non-independent director John Shaw, who is husband of Kiran Mazumdar Shaw, stepped down from board due to health reasons on Wednesday. In a filing, company informed about stepping down of Shaw from position, which he acquired in year 2000, and informed of its coming to effect from conclusion of Annual General Meeting of company. His strong management and financial experience helped Syngene establish strong corporate governance that company is recognized for, filing ded.

On Tuesday, taking to her Twitter handle, Biocon Executive Chairperson Kiran Mazumdar-Shaw confirmed news. "John Shaw my husband bidding farewell to shareholders of Syngene as he retires from board," she wrote, highlighting that he has been a driving force and company (Syngene) has hugely benefited from his stewardship.

Prior to joining Syngene International, he h worked with Coats Viyella Plc. for 27 years in various capacities including finance and general ministration, and also served as Finance Director and Managing Director of Coats Viyella group companies in various locations around world.

Syngene International's profit rises 33% to Rs 77 crore

Meanwhile, company has reported a 33.27 percent rise in its consolidated net profit at Rs 77.3 crore for quarter that ended on June 30, 2021. This is in sharp contrast to net profit of Rs 58 crore that was reported for corresponding period of previous fiscal and is said to be a result of  strong boost provided by COVID-19 drug, Remdesivir. Whatever be case, consolidated revenue from operations of company stood at Rs 594.5 crore for quarter under consideration, which was Rs 421.6 crore for same period a year ago

"Besides continuing progress across all our business divisions, growth for quarter was strongly boosted by manufacturing of COVID-19 treatment, Remdesivir, as we increased production to meet needs of second wave of COVID-19 in India," Syngene International MD and CEO Jonathan Hunt said. He ded, "Overall, first-quarter performance was in line with, "our expectations and puts us on track to meet our full-year growth guidance in coming quarters."

(Credit-@Kiranshaw/Twitter )