Harvard Bioscience names John Duke as new CEO as Jim Green retires

HOLLISTON, Mass. - Harvard Bioscience, Inc. (NASDAQ:HBIO) announced Thursday that board member John Duke will succeed Jim Green as President and CEO effective July 28, 2025, following Green’s planned retirement after more than eight years as Chairman and six years as President and CEO. The leadership transition comes as the company’s stock has faced significant challenges, down about 88% over the past year according to InvestingPro data.

Duke currently serves as Chief Executive Officer of Plastic Molding Technology, where he achieved approximately 20% annual revenue growth during his tenure. His previous experience includes executive roles at Lyten, Inc. and over 20 years at Corning Incorporated, including ten years in Corning’s Life Sciences division.

"I am honored to be appointed as the next President & CEO at this important time for Harvard Bioscience," Duke said in the press release.

The company also appointed Rob Gagnon and Seth Benson to its Board of Directors, effective July 16. Gagnon previously served as CFO of Harvard Bioscience from 2013-2018, while Benson is currently CFO of Nuclera Ltd with prior experience at Vizgen, Inc. and Akoya Biosciences.

Katherine Eade, Lead Independent Director, thanked Green for his service and welcomed the new appointments.

Additionally, Harvard Bioscience reported that it expects second quarter 2025 revenue to be $20.4 million and reiterated its previously announced guidance for gross margin to be in the range of 55% to 57% for the same period. The company plans to report its complete second quarter 2025 financial results on August 11, 2025.

Harvard Bioscience develops and manufactures technologies and products for life science applications, serving customers ranging from academic institutions to pharmaceutical companies.

In other recent news, Harvard Bioscience announced several key developments. The company reported its first-quarter 2025 earnings, revealing revenue of $21.8 million, exceeding the forecasted $20 million. Despite this revenue beat, the company experienced an operating loss primarily due to a $48 million non-cash goodwill impairment charge. Looking ahead, Harvard Bioscience anticipates second-quarter 2025 revenue to range between $18 million and $20 million, with a gross margin projection of 55% to 57%. Additionally, Harvard Bioscience has appointed John Duke as the new President and CEO, effective July 28, 2025, following Jim Green’s retirement. The company also welcomed Rob Gagnon and Seth Benson to its Board of Directors. These changes come as Harvard Bioscience continues its strategic focus on product innovation and cost management.

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