Sosei Group Corp. said Peter Bains will resign as the company's president, CEO and board member, effective Dec. 31.

Shinichi Tamura, executive chairman, founder and former CEO of Sosei, will replace Bains as the company's chairman, president and CEO, effective Jan. 1, 2019.

Tokyo-based Sosei Group Corporation is a biopharmaceutical company that discovers, develops and commercializes biopharmaceutical products worldwide.