Alvotech (ALVO), a biotech company that manufactures biosimilar medicines, announced Tuesday the appointment of Lisa Graver as Chief Executive Officer.
Graver succeeds Rbert Wessman, who founded the company in 2013. He served as Chairman since the company's inception and Chief Executive Officer since 2023. Wessman will transition out of the CEO role at the end of the first quarter of 2026, and will continue to serve as Executive Chairman in a full-time capacity.
The transition process will begin immediately, with Graver working with Wessman and the executive team over the coming months to ensure continuity and a smooth handover.
Graver has worked closely with Wessman for more than two decades. She served as Chief Executive Officer of Alvogen until its acquisition by Lotus Pharmaceutical in December 2025, and as a member of Alvotech's Board since its public listing in 2022.
Upon assuming the CEO role, she will step down from the Alvotech Board.
Wessman said, "When I stepped into the CEO role at the beginning of 2023, it was with a clear objective to strengthen day-to-day leadership and position the company for its next phase. My intention was not to combine the roles of Chairman and CEO on a long-term basis, and the Board and I have been planning for a CEO succession accordingly for some time."
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