Celgene announces new chief executive officer

Celgene has announced that Robert Hugin is to take over from Dr Sol Barer as its chief executive officer (CEO).

Mr Hugin, who is currently the company’s president and chief operating officer, will take up his new position as of June 16th 2010, with Dr Barer becoming executive chairman of the board of directors.

The incoming CEO has been a part of Celgene’s leadership for 11 years, having joined the company as senior vice-president and chief financial officer in June 1999.

Dr Barer, meanwhile, will occupy his new position on the board until December 31st 2010, after which he will become non-executive chairman and will continue to serve Celgene in a consulting role.

He said of his successor: “Bob brings strong leadership, experience and continuity to our business that enables Celgene to continue our mission to become the premier biopharmaceutical company.”

This week also saw Celgene report its first quarter financial breakdown, highlighting a 31 per cent year-on-year increase in quarterly revenue.