ScinoPharm announced that after 17 years of dedicated service, its co-founder and President & CEO Dr. Jo Shen is retiring at the end of July 2014 and will be succeeded by Dr. Yung-Fa (Fred) Chen, currently Sr. Vice President of R&D and Chief Technology Officer, effective August 1, 2014. Dr. Shen will continue to serve as a member of ScinoPharm's Board of Directors.
Dr. Chen joined ScinoPharm in 1998 and has held various management positions of increasing responsibility. After serving as Vice President of Advanced Technology Development starting in 2003, he was appointed Chief Operating Officer of ScinoPharm Kunshan Biochemical in 2006, successfully building an operation base in China with a skilled local team, leading to the establishment of ScinoPharm's current Changshu site. In 2009, he was promoted to Corporate Vice President of R&D, overseeing the R&D teams in both Tainan and China. In 2012, he was further promoted to Senior Vice President of R&D and Chief Technology Officer.
Dr. Chen graduated from Tunghai University with a B.S. in Chemistry, received his M.S. from National Taiwan University, and Ph.D. from Wayne State University both in Organic Chemistry, followed by two years of postdoctoral fellowship in Medicinal Chemistry at Wayne State University. He is the holder of ten patents.
Mr. Kao-Huei Cheng, Chairman of ScinoPharm, said "Dr. Chen has been a part of the senior management team for over 16 years, playing a key role in ScinoPharm's growth. His scientific breadth and experience in organization leadership will allow us to continually build on the firm API business foundation established thus far while expanding into the injectable and formulation sectors for vertical integration. The Board looks forward to him to lead the company in its next stage of growth." Chairman Cheng also expressed gratitude to Dr. Jo Shen for her enormous contributions as ScinoPharm's President and CEO over the years. He stated, "Through Dr. Shen's leadership, ScinoPharm has become one of the most successful publically traded pharmaceutical companies in Taiwan. She has 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." Dr. Jo Shen has led ScinoPharm since its founding in 1997, repeatedly demonstrating her leadership as she guided the company through challenging times as well as some of its most exciting moments. Under her direction, ScinoPharm has consistently grown in capabilities, influence, and revenue with a commanding position in a number of niche markets globally.
"It has been an honor and privilege to work with all these incredibly talented people, not only our employees, but customers, partners, and the investment community as well," said Dr. Shen. "ScinoPharm is in a strong position today. While many challenges lie ahead, I am confident that, with ScinoPharm's track record and Dr. Chen's leadership, the company will continue to thrive while maintaining our core values."