Wayne, Pa.-based Encorium Group has appointed Kai Lindevall, M.D., Ph.D., as chief executive officer, replacing president and CEO, Kenneth Borow, M.D.
Borow, who ran the company for seven years, will assume the role of chief medical officer and strategic development officer.
Lindevall was Encorium’s president of operations for the company’s Europe and Asia business. He was the founder and former CEO of Remedium Oy, and joined Encorium when it acquired that company in November 2006. The company stated it made the changes to allow Borow to focus on expanding its consultancy business and international business development.
"In my position as CEO I shall oversee the implementation of the strategy that our entire senior management team anticipates will lead to success in terms of predictable growth and improved financial results. With Ken now able to focus more of his time on building our consultancy services and delivering on new business development opportunities, the team should be well positioned to achieve our targets for global growth and profitability,"stated Lindevall.
Encorium also stated it plans to expand into the emerging markets of China, India, and Latin America.
"Expansion into new therapeutic and geographic areas through both organic growth and acquisitions will be essential in achieving our strategic targets. My expertise bringing CRO services into emerging markets will be very helpful in accomplishing our goals," said Lindevall.