Innovent Bio Announces Appointment of Samuel Zhang as Global Chief Business Officer Amid Industry-Wide Leadership Shifts

Just now, Innovent Bio announced the appointment of Su Hua Zhang as Global Chief Commercial Officer. Su Hua Zhang will be responsible for the strategic planning and business development of Innovent Bio's global operations, reporting to the company's founder, Chairman, and CEO, De Chao Yu.

Before joining Innovent Bio, Zhang Suhua served as the Chief Business Officer of Gracell Biotechnologies and NeoImmuneTech, where he led the $1.2 billion acquisition partnership between Gracell Biotechnologies and AstraZeneca, marking the first case of a Chinese innovative pharmaceutical company being acquired by a multinational pharmaceutical corporation. He has also held various management positions at Eli Lilly, Pfizer, Bristol-Myers Squibb, Novartis, and Merus.

This month, Innovent Bio also announced the appointment of Nageatte Ibrahim as Chief Medical Officer of Oncology, responsible for the overall global clinical development layout, strategy formulation, and execution in the company's oncology field.

Compared with the bustling "Golden March, Silver April" job-hunting season in previous years, this year's hot topics are more about layoffs, pay cuts, and closures—words that convey anxiety. It was originally thought that this year’s "Golden March, Silver April" would pass quietly, but unexpectedly, several major personnel changes occurred in the second half of the month, causing a stir in the pharmaceutical industry.

In China, Innovent Bio and Zai Lab appointed Chief Commercial Officers, the "second generation" of Zhendong Pharmaceutical took over, and New Neo Pharma of CSPC replaced its General Manager along with the release of its Q1 report; at the multinational level, Song Weiqun, who served Johnson & Johnson for 23 years, officially announced his departure to pursue external development opportunities; Jin Xiaodong returned to the multinational Pfizer after moving from an MNC back to a local company; Novartis revealed the appointment of its next Chairman while releasing its financial report.

Johnson & Johnson and Pfizer are no strangers to frequent personnel changes.

Song Weiqun's resignation is indeed quite unexpected. Song Weiqun has served Johnson & Johnson for over 20 years, and it is the only company he has worked for since starting his career; he could be considered the number one figure in Johnson & Johnson's China region. As the first China-born chairman in Johnson & Johnson’s more than 130-year history, Song Weiqun was the first to propose positioning China as a "global innovation engine," making Johnson & Johnson the first Fortune Global 500 company to strategically deploy China as an innovation hub.

According to the disclosed information, Song Weiqun will continue to serve as the Chairman of Johnson & Johnson China and the President of Johnson & Johnson Medical Technology China until the end of September this year. He will be fully responsible for the company's business operations and daily management to ensure a smooth transition and handover. With a nearly 5-month transition period, it will be difficult for Johnson & Johnson’s adjustments to settle in the short term.

This month, former Roche Pharma China Vice President of Talent and Organizational Culture, Chen Yanli, has also joined the Johnson & Johnson Medical Technology China Board and the Asia-Pacific HR management team. She will serve as the Head of Human Resources for Johnson & Johnson Medical Technology China & OneHR China, responsible for providing HR-related support to the business from both operational and strategic perspectives. She will drive business growth by building talent strategies and promote the HR strategy for OneJ&J China.

Pfizer China's Vaccine Division, After Multiple Adjustments and Cuts Last Year, to Merge with Core Business. Pfizer Appoints Sean Jin as Head of Pfizer China’s Vaccines and Core Business. Sean Jin, Who Previously Returned from MNCs like Novartis, Abbott, and Sanofi to Local Biotech Innovent Bio, Rejoins a Multinational Pharmaceutical Company.

According to the content of the appointment document, "Under the leadership of Xiao Dong Jin, the merged vaccine and core business team will comprehensively plan the strategic development and overall operations of Pfizer China's CS products."

Zai Lab's Chief Commercial Officer also has a particular preference for talents from multinational pharmaceutical companies. Interestingly, both the current Chief Commercial Officer, Liang Yi, and the newly appointed Zhu Tong had work experience at AstraZeneca before returning to Chinese pharmaceutical companies.

Liang Yi joined Zai Lab after leading multiple oncology drug commercialization teams at Roche, BMS China, and AstraZeneca China; Zhu Tong joined Simcere Pharmaceutical after holding sales and marketing roles at Roche, Novartis, BMS, Sanofi, and AstraZeneca China.

Liang Yi's joining quickly ushered in the commercial era for Zai Lab, with its first commercial product, Zejula, becoming a mature offering for the company. Currently, Zai Lab has five products launched in China, some of which have become sales leaders. With Liang Yi’s departure and Zhu Tong’s appointment, how will Zai Lab's commercial model evolve further?

The change of the leader, however, was a turbulent one, mixed with power struggles and transitions.

Founder of Red Sun Pharmaceutical, Yao Xiaoqing, has applied to resign from his positions as the company's legal representative, chairman, and director due to personal work reasons. After his resignation, he will no longer hold any position in the company.

Among the senior executives who worked at Red Sun Pharmaceutical in its early days, several have already resigned. In 2019, Sun Changhai, the former vice chairman and director of Red Sun Pharmaceutical, stepped down. He had co-developed the Xuebijing Injection with Yao Xiaoqing. Zeng Guozhuang, Wu Guangning, and Li Zhantong, who were formerly directors of Datong Group, also chose to resign in 2019 and 2023 respectively, no longer holding any positions at Red Sun Pharmaceutical. On March 11 this year, Zheng Dan, vice chairman, director, and general manager of Red Sun Pharmaceutical, also retired from her position.

The major reshuffle in the management team is backed by the entry of Chengdu State-owned Assets Supervision and Administration Commission (SASAC). In November 2018, Datong Group, the original largest shareholder of Red Sun Pharmaceutical, transferred 345 million shares, accounting for 11.45% of the total equity of Red Sun Pharmaceutical, to Chengdu Xingcheng Group. Subsequently, Yao Xiaoping and Sun Changhai successively transferred their shares to Xingcheng Group. In January 2019, Xingcheng Group acquired 668 million shares of Red Sun Pharmaceutical, accounting for 22.195% of the company's total equity. The actual controller of Xingcheng Group is Chengdu SASAC.

Yao Xiaoqing's resignation means that the power transfer between the original shareholders and new shareholders of Red Sun Pharmaceutical has basically ended.

Changes in Power Also Occur at HT Medical. This month, after seven senior executives of HT Medical collectively resigned, Mindray nominated Ge Hao, Li Zaiwen, Li Xinsheng, and Zhao Yun as non-independent director candidates for the second board of directors of HT Medical, and Sun Lefei as an independent director candidate for the second board of directors of HT Medical. The control of HT Medical has been successfully handed over, with Mindray taking over the board.

However, the chairman of Zhendong Pharmaceutical was "forced to step down." Earlier, Li Anping, chairman of Zhendong Pharmaceutical, and Liu Changlu, the financial director, were criticized by the Shenzhen Stock Exchange for "failing to act with honesty, integrity, and diligence, ... allowing the controlling shareholder to occupy a large amount of the listed company's funds over a long period." (From February 2018 to August 2021, the controlling shareholder, Zhendong Group, occupied 134 million yuan of Zhendong Pharmaceutical's funds, which were fully repaid by April 18, 2023.) They were penalized with a three-year disqualification from serving as directors, supervisors, or senior management personnel of listed companies. Li Anping urgently needs to quickly find a suitable "successor."

According to the announcement by Zhendong Pharmaceutical, Li Anping's son, Li Kun, will take over. Li Kun, a "post-90s" individual, has previously held positions in the company as General Manager of E-commerce, General Manager of Marketing, and Vice President. He currently serves as a director of the company.

Guangyuyuan, plagued by financial fraud scandals, sees both its current and former presidents resign this month: Zhang Bin, who has been banned from the securities market for 10 years, applied to step down as a director of the company, while Miao Hui, the 49-year-old president, resigned from his positions as president, director, and member of the compensation and evaluation committee due to personal reasons. After their resignations, neither will hold any position in the company.

At the end of January 2024, Guangyu Far announced a notice regarding the correction of previous accounting errors and retrospective adjustments, involving financial reports spanning seven years from 2016 to 2022, thereby revealing a hidden history of multi-year financial data fraud. In March, the CSRC imposed a 10-year securities market ban on Zhang Bin, the then chairman.

It is worth mentioning that Miao Hui's former employer was Zhen Dong Pharmaceutical. After creating the blockbuster product Langdi Calcium, he switched to Guang Yu Yuan and soon replaced Zhang Bin as the president of Guang Yu Yuan. However, less than two years after joining, Miao Hui left abruptly before having a chance to fully demonstrate his capabilities as a professional manager.

Management Turmoil and Negative News Plague Guangyuyuan: What's Next? After Two Presidents Depart, the Management Team is Now Mostly Composed of Shanxi State-Owned Assets Personnel. The New President Has Yet to Be Determined.

International Aspect——

GE Healthcare's Chief Imaging Officer Position to Experience Temporary Vacancy. It is reported that Jan Makela, GE Healthcare’s Chief Imaging Officer, will step down on July 8 to join another company. According to a filing by GE Healthcare, Makela did not disclose the name of the company he will join, except that it is a privately held non-competitor.

GE Healthcare will assess both internal and external candidates to fill the position of Chief Executive Officer for Imaging.

Novartis has already determined the next chairman of the board early on. According to the latest foreign media reports, Giovanni Caforio, who left BMS in November last year, will succeed Joerg Reinhardt, who has been the long-term chairman of Novartis, next year. Joerg Reinhardt plans to retire when his 12-year term ends in December 2025.

When we focus on the personnel changes in key positions of an enterprise, we are also observing the new strategies of the enterprise amidst significant changes.

Editor: Bai Ji

Disclaimer: This article is a reprint from Pharmacist Network, with all images and text reserved by the original author. The purpose of the reprint is to convey more information and does not represent the views of this platform. If there are any issues regarding the content, copyright, or other aspects, please leave a message on this platform, and we will address it promptly.