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 the husband of Kiran Mazumdar Shaw, stepped down from the board due to health reasons on Wednesday. In a filing, the company informed about the stepping down of Shaw from the position, which he acquired in the year 2000, and informed of its coming to effect from the conclusion of the Annual General Meeting of the company. His strong management and financial experience helped Syngene establish the strong corporate governance that the company is recognized for, the filing added. On Tuesday, taking to her Twitter handle, Biocon Executive Chairperson Kiran Mazumdar-Shaw confirmed the news. "John Shaw my husband bidding farewell to shareholders of Syngene as he retires from the board," she wrote, highlighting that he has been a driving force and the company (Syngene) has hugely benefited from his stewardship. John Shaw my husband bidding farewell to shareholders of Syngene as he retires from the board. He has been a driving force and the company has hugely benefited from his stewardship. 🙏 pic.twitter.com/eMrF6K0Aev — Kiran Mazumdar-Shaw (@kiranshaw) July 21, 2021 Prior to joining Syngene International, he had worked with Coats Viyella Plc. for 27 years in various capacities including finance and general administration, and also served as Finance Director and Managing Director of Coats Viyella group companies in various locations around the world. Syngene International's profit rises 33% to Rs 77 crore Meanwhile, the company has reported a 33.27 percent rise in its consolidated net profit at Rs 77.3 crore for the quarter that ended on June 30, 2021. This is in sharp contrast to the net profit of Rs 58 crore that was reported for the corresponding period of the previous fiscal and is said to be a result of the strong boost provided by the COVID-19 drug, Remdesivir. Whatever be the case, the consolidated revenue from operations of the company stood at Rs 594.5 crore for the quarter under consideration, which was Rs 421.6 crore for the same period a year ago "Besides continuing progress across all our business divisions, growth for the quarter was strongly boosted by the manufacturing of COVID-19 treatment, Remdesivir, as we increased production to meet the needs of the second wave of COVID-19 in India," Syngene International MD and CEO Jonathan Hunt said. He added, "Overall, first-quarter performance was in line with, "our expectations and puts us on track to meet our full-year growth guidance in the coming quarters." (Credit-@Kiranshaw/Twitter )

Advertisement

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

Biopharma company Syngene International's non-executive, non-independent director John Shaw stepped down from the board due to health reasons on Wednesday.

Advertisement