Alvotech Appoints Linda Jónsdóttir as New CFO, Joel Morales Steps Down

Alvotech, a global biotech company, has appointed Linda Jónsdóttir as Chief Financial Officer. Linda is an experienced international executive with a background in finance and corporate leadership. She will be based in Iceland. Joel Morales, the previous CFO, has stepped down to prioritize family time and will continue to advise Alvotech. Linda's appointment is effective immediately.

Reykjavik, Iceland (July 10, 2025) — Alvotech (NASDAQ: ALVO), a global biotech company specializing in the development and manufacture of biosimilar medicines, has appointed Linda Jónsdóttir as its new Chief Financial Officer (CFO). Linda brings extensive experience in finance and corporate leadership, having held senior roles at Marel, a global leader in food processing technology, including Director of Treasury and Investor Relations, Chief Financial Officer, and Chief Operating Officer. She will be based in Iceland [1].

Joel Morales, who served as CFO of Alvotech since 2020, has decided to step down to prioritize family time and will continue to support the company in an advisory capacity. Joel's tenure saw Alvotech transition from a privately held, R&D-focused company to a public, profitable, and fully integrated global commercial biosimilars company [1].

Linda Jónsdóttir expressed her enthusiasm about joining Alvotech, stating, "It’s a great pleasure to join Alvotech, which is a unique company domestically as well as an emerging leader in its field internationally. It’s been thrilling to watch Alvotech’s rapid growth, and its prospects are equally exciting. I look forward to working with an exceptional team, building on this strong foundation and history of achievement" [1].

Joel Morales, in his farewell statement, thanked his colleagues and Robert Wessman for the opportunity to be part of Alvotech's journey. He added, "It has been an honor to be a part of the Alvotech team. I would like to thank all of my colleagues and Robert especially for a wonderful journey. We have accomplished much together, and I’m confident that Alvotech is well positioned for future growth and success. I look forward to supporting the team in the weeks ahead to ensure a smooth transition and prepare for presenting our Q2 results in August. I will of course remain a proud shareholder in Alvotech" [1].

Linda Jónsdóttir's appointment is effective immediately, and she will be responsible for Alvotech's financial strategy and operations. The company continues to expand its biosimilar pipeline, with nine disclosed biosimilar candidates aimed at treating autoimmune disorders, eye disorders, osteoporosis, respiratory disease, and cancer. Alvotech has formed strategic commercial partnerships with global pharmaceutical companies to provide global reach and leverage local expertise [1].

References:
[1] https://www.globenewswire.com/news-release/2025/07/10/3113033/0/en/Alvotech-Appoints-Linda-J%C3%B3nsd%C3%B3ttir-as-Chief-Financial-Officer.html