Updated on 14 July 2014
Dr Shen would be succeeded by Dr Yung-Fa (Fred) Chen as the new CEO
Singapore: Taiwan-based pharmaceutical company ScinoPharm announced the retirement of its chief executive officer, Dr Jo Shen. Dr Shen would be retiring by the end of July, following 17 years of dedicated service.
Dr Shen has repeatedly demonstrated her leadership as she guided the company, ensuring consistent growth in capabilities, influence, and revenue with a commanding position in a number of niche markets globally.
Dr Shen would be succeeded by Dr Yung-Fa (Fred) Chen, the vice president of research and development. Dr Shen will continue to serve as a member of ScinoPharm's Board of Directors.
Chairman of ScinoPharm, Mr Kao-Huei Cheng said that Dr Chen had led the senior management of Scino Pharm through a long successful tenure. His scientific and organizational experience would help ScinoPharm attain a strong hold over API businesses. He added that Dr Chen's experience would add value to the aim for expanding into injectable and formulations too for vertical integration.
Mr Cheng noted, "Under Dr Shen's leadership, ScinoPharm had attained a significant position among the successful public traded pharmaceutical companies in Taiwan. She had generated significant value for our shareholders and also built an exceptional senior management team with significant depth and experiences, enabling the company to take on the challenges ahead."