Bio-Rad Laboratories, Inc. has announced the appointment of Roop K. Lakkaraju as its new Executive Vice President and Chief Financial Officer, effective April 15, 2024. Lakkaraju joins Bio-Rad from Benchmark Electronics, where he served as Executive Vice President and CFO since 2018. Prior to Benchmark, he held CFO and senior operational roles at Support.com and Solectron.
Bio-Rad reported revenues of $2.7 billion in 2023, and it operates a global network with over 8,000 employees. The company's products are utilized by universities, research institutions, hospitals, food safety and environmental quality laboratories, and biopharmaceutical companies.
Lakkaraju expressed his excitement about joining Bio-Rad, noting that he looks forward to driving the company's financial and strategic initiatives to create long-term value for all stakeholders. Norman Schwartz, Bio-Rad's President and CEO, highlighted Lakkaraju's extensive experience and track record in financial management, operations, mergers and acquisitions, and capital markets transactions, emphasizing the instrumental role Lakkaraju is expected to play in shaping and executing the company's financial strategy.
The appointment of Lakkaraju as CFO is expected to bring a new perspective to Bio-Rad's financial leadership, as he transitions from his role at Benchmark Electronics to contribute to the company's future financial and strategic endeavors. Following these announcements, the company's shares moved -0.6%, and are now trading at a price of $334.46. Check out the company's full 8-K submission here.
