Genetic Technologies (ASX:GTG) shares rise after announcement of new CEO

Molecular diagnostics player Genetic Technologies Limited (ASX:GTG; NASDAQ:GENE) today announced Simon Morriss’s appointment as the CEO of the Company. Mr Morriss will commence his role starting 1 February 2021.

Post the announcement, GTG shares marked an uptick of 6.666%, ending the session at A$0.008 on 4 January 2021.

Simon Morriss brings extensive experience to GTG

Mr Morriss has more than 20 years of extensive experience in Pharmaceutical, Healthcare, as well as FMCG industries. He has also held senior executive positions at Blackmores and Sanofi.

He brings a fortune of experience in managing teams with successful execution across sales, marketing, and brand building.

Furthermore, Mr Morriss has played critical roles in leading commercialisation in all these industries and has an idea of the pressures and prospects.

Notably, he will be leading GTG’s commercialisation strategy and continue to drive innovation across all the businesses.

George Muchnicki assumes the role of CMO and Executive Director

In addition to the appointment of CEO, GTG Board is gratified to reveal that George Muchnicki will join as the Chief Medical Officer and Executive Director. Since September 2019, he has been working as the Acting CEO of the Company.

Dr Muchnicki has played an important role in advancing GTG’s direction as well as the scope of the products in development. He will continue to leverage his impressive experience and knowledge to build the medical framework for GTG’s offerings. He will also focus on the progression of product development.

On Mr Morriss’s appointment, Chairman, Peter Rubinstein, stated that the Company was delighted on his onboarding. Simon’s extensive experience in product commercialisation within the Healthcare and Pharmaceutical industry will be significant for GTG, as the Company expands its commercialisation efforts from a predominantly research-based business.

Mr Rubinstein also added:

In relation to his appointment as CEO of Genetic Technologies, Mr Morriss commented:

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