Alvotech Appoints Linda Jónsdóttir As New Chief Financial Officer To Lead Global Biotech Financial Strategy

Alvotech, a global biotechnology company focused on developing and manufacturing biosimilar medicines, has announced the appointment of Linda Jónsdóttir as its new Chief Financial Officer (CFO). Linda brings extensive international experience in finance and corporate leadership, having worked across several key industries including banking, food technology, transportation, and healthcare. She will be based in Iceland.

Linda succeeds Joel Morales, who has served as Alvotech’s CFO since 2020. Based in the United States, Joel has decided to step down from his current role to spend more time with his family and remain in the U.S. However, he will continue to support Alvotech in an advisory capacity to help ensure a smooth leadership transition.

Robert Wessman, stated, “We are delighted to welcome Linda to the Alvotech executive team. She brings a wealth of experience to this position, with a strong record of senior leadership and financial expertise. I am confident that she will hit the ground running, supporting our continued growth and evolution. I would also like to thank Joel for his valuable contribution. During his tenure we experienced an amazing transformation, as Alvotech transitioned from being privately held and R&D focused, to a public, profitable and fully integrated global commercial biosimilars company that is poised to become a leader in the industry.”

Linda Jónsdóttir, mentioned, “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.”

Joel Morales, commented, “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.”

Prior to joining Alvotech, Linda spent 15 years at Marel, a global company specializing in food processing technology. During her time there, she held several senior positions including Director of Treasury and Investor Relations, Chief Financial Officer, and later, Chief Operating Officer. She stepped down from Marel in 2024. In addition to her executive roles, Linda has served on a number of boards, including those in the banking sector, private equity funds, and the Icelandic Chamber of Commerce.

Her appointment signals Alvotech’s ongoing commitment to strengthening its leadership team as the company continues to expand its global footprint in biosimilars and advance its mission to improve access to high-quality, affordable biologic medicines worldwide.