Frontage Announces Co-CEO Promotions

EXTON, PA / ACCESSWIRE / January 13, 2025 / Frontage Holdings Corporation (SEHK stock code:1521) announced on January 6 2025 that Dr. Abdul Mutlib has decided to step aside from his current role as CEO of the company to facilitate the Company's leadership succession planning and that Chief Strategy Officer Dr. Wentao Zhang and President Dr. John Lin have been promoted to Co-CEOs of the company effective today. Going forward, Dr. Mutlib will assume an advisory role as the Chief Scientific and Strategy Officer, ensuring a smooth transition and business continuity. Dr. Mutlib will remain committed to Frontage for at least a year, advising and supporting the Frontage leadership team, contribute to Frontage's growth plans across various business units, and participate in business development, especially in early drug discovery and development.

Dr. Zhang has been a valued Frontage executive for nearly 4 years, following Frontage's acquisition of Quintara Discovery, which Dr. Zhang founded in 2012. Likewise, Dr. Lin has been a core member of Frontage's executive team for over 17 years, most recently serving as President of Frontage Laboratories, Inc.

In announcing the promotions, Dr. Song Li, Executive Chairman on the Board, said, "Since its founding over 20 years ago, Frontage has been a remarkable and dynamic organization. We have continued to enjoy impressive growth in many areas during Abdul's successful tenure as CEO and we are grateful for his vision and leadership over the past two years. I believe he has guided the company through a period that has presented some challenges to the CRO industry and, through his steady stewardship, has positioned us for ongoing success."

Dr. Li continued, "Wentao and John are incredibly talented leaders - each of them have proven track records of delivering impressive results for Frontage, while inspiring their colleagues at Frontage and our partners throughout the industry. They both have many years of executive-level experience and have been working closely with Abdul in preparation for assuming their new responsibilities as Co-CEOs. I respect Abdul's decision to step aside from his role as CEO and I am thankful that he will be remaining with the organization as Chief Scientific and Strategy Officer - a role in which he will offer support to Wentao and John, while also offering guidance to the company in strategic and corporate development initiatives. As Co-CEOs, Wentao and John will have clearly delineated roles and responsibilities, and I believe their history of effective collaboration presents a unique leadership opportunity for Frontage. On behalf of the board of directors, it is my privilege to announce their elevation to their new roles."

In announcing his decision to step aside as CEO, Dr. Mutlib said, "As I approach my 65th birthday, the time is right for me to transition from day-to-day duties of actively managing the Frontage organization. Serving our clients, employees, and stockholders as CEO for the past 2 years has been an honor and privilege. The support of Frontage's Board of Directors and Frontage's extraordinary employees has helped us navigate through a challenging environment while delivering the impressive results that our clients have come to expect from us. I am looking forward to continuing to serve Frontage in my role as Chief Scientific and Strategy Officer, a role in which I will offer my full support to Wentao and John. I have complete confidence in their ability to lead Frontage into the future, and I congratulate them as my successors."

Dr. Zhang said, "I am honored to succeed Abdul as Frontage's Co-CEO. He has demonstrated remarkable leadership for the company over the last 2 years. I am fortunate to continue to work with Abdul in my new role and am humbled by the confidence that Abdul, Song, the Frontage board of directors, and our dedicated employees have placed in me. My Co-CEO John and I have worked together for many years, and it is the honor of my business career to collaborate with him in leading our company."

Dr. Lin said, "I would like to express my thanks to Song and the board of directors for the opportunity to lead this outstanding organization with Wentao as Co-CEOs. Abdul has set an impressive example in leadership over the past two years, and I am grateful for the opportunity to continue to work with him. Wentao is a remarkable colleague, and we will endeavor to jointly lead Frontage with humility, integrity and care, as we maintain our focus on serving our customers, enhancing profitability and creating long-term value for all of our stakeholders."

About Frontage (www.frontagelab.com)

Frontage Holdings Corp (1521.HK), together with its wholly owned subsidiaries including Frontage Laboratories, Inc., is a global Contract Research Organization (CRO) that provides integrated, science-driven, product development services from drug discovery to late-phase clinical process to enable biopharmaceutical companies to achieve their development goals. Comprehensive services include drug metabolism and pharmacokinetics, analytical testing and formulation development, preclinical and clinical trial material manufacturing, bioanalysis, preclinical safety and toxicology assessment, and early-phase clinical studies. Frontage has enabled many biotechnology companies and leading pharmaceutical companies of varying sizes to advance a myriad of new molecules through development and to successfully file global regulatory submissions. For more details visit www.frontagelab.com.

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SOURCE: Frontage Holdings Corporation