Harvard Bioscience Announces Leadership Transition
Harvard Bioscience, Inc. (NASDAQ: HBIO) is embarking on an exciting new chapter as it prepares for a transition in leadership. Current board member John Duke will take the reins as the new President and CEO, succeeding Jim Green, who has made significant contributions during his outstanding tenure. This strategic leadership change is expected to align with the company’s future goals and initiatives.
Background of the New CEO, John Duke
John Duke brings a wealth of experience to his new role. As CEO of Plastic Molding Technology (PMT), he successfully led the company with remarkable revenue growth of around 20% annually. His previous experience also includes roles at Lyten, Inc. as Executive VP and Chief Business Officer, and over two decades of service at Corning Incorporated, where he was instrumental in various projects related to life sciences.
Vision for the Future
Upon his appointment, Mr. Duke expressed his enthusiasm for leading Harvard Bioscience, stating, "I am honored to be appointed as the next President & CEO at this important time for Harvard Bioscience. I look forward to building off the strong foundation established by Jim and focusing on sustainable growth and profitability. Together with the Board and the leadership team, I aim to drive long-term value for our customers and shareholders."
Jim Green's Legacy and Future Plans
Jim Green has led the company for over eight years as Chairman, as well as six years as President & CEO. His leadership has laid a solid foundation, and he remains committed to supporting the transition. Green has expressed confidence in Mr. Duke as his successor, believing he will steer the company to a prosperous future while retaining a significant interest in its growth.
New Additions to the Board of Directors
As part of its forward-looking strategy, Harvard Bioscience has appointed Rob Gagnon and Seth Benson as independent directors on its Board. These appointments took effect on July 16, 2025. Their extensive experience in finance and life sciences is expected to bring invaluable insights to the Board.
Rob Gagnon's Expertise
Rob Gagnon holds over two decades of experience in leading finance operations within the life sciences sector. He previously served as CFO of Harvard Bioscience, where he acquired in-depth knowledge of the business and its operations. Gagnon is also a board member for several corporations, including Verastem Oncology and Bone Biologics.
Seth Benson's Leadership Role
Seth Benson comes with a strong background in finance and operations, particularly in life science tools. He currently serves as CFO at Nuclera Ltd, and previously held the CFO position at Vizgen, Inc. His strategic perspective will greatly benefit the company as it focuses on its core operations.
Financial Outlook and Company Performance
Harvard Bioscience anticipates a revenue of $20.4 million for the second quarter of 2025, continuing its commitment to growth. Additionally, the company has reaffirmed its guidance, expecting a gross margin between 55% to 57% for the same quarter.
About Harvard Bioscience
As a leading developer and manufacturer of technologies that advance life science applications, Harvard Bioscience services a wide array of customers, from prestigious academic institutions to global pharmaceutical companies. With a presence in multiple regions, including the United States, Europe, and China, the company employs a mix of direct and distribution channels to reach customers worldwide.
Get in Touch
For more information about Harvard Bioscience, visit www.harvardbioscience.com. For inquiries, contact investors@harvardbioscience.com or call (508) 893-3120.
Frequently Asked Questions
1. Who is the new CEO of Harvard Bioscience?
The new CEO is John Duke, who will succeed Jim Green.
2. What recent changes were made to the Board of Directors?
Rob Gagnon and Seth Benson have been appointed as new independent directors.
3. What is the expected revenue for Q2 2025?
The anticipated revenue for Q2 2025 is $20.4 million.
4. How long did Jim Green serve as CEO?
Jim Green served as CEO for six years and held the chairman position for eight years.
5. What does Harvard Bioscience specialize in?
Harvard Bioscience specializes in technologies for life sciences applications, including research and pharmaceutical development.
