Schrödinger Announces Appointment of Arun Oberoi to Board of Directors

Rhea-AI Summary

Schrödinger, Inc. (Nasdaq: SDGR) has appointed Arun Oberoi to its Board of Directors, effective May 17, 2022. Mr. Oberoi, a former executive vice president at Red Hat, will also serve on the Audit Committee. His extensive experience in enterprise software is expected to support Schrödinger's growth and mission to enhance human health. Schrödinger specializes in a physics-based software platform that accelerates the discovery of therapeutics and materials, aiming to improve efficiency and reduce costs significantly compared to traditional methods.

Positive

• Appointment of Arun Oberoi brings extensive experience in enterprise software.
• Strengthened leadership expected to enhance business growth.
• Focus on improving human health and quality of life aligns with market demand.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Schrödinger, Inc. (Nasdaq: SDGR), whose physics-based software platform is transforming the way therapeutics and materials are discovered, today announced the appointment of Arun Oberoi to its Board of Directors, effective May 17, 2022. Mr. Oberoi will serve as a member of the Audit Committee.

Arun Oberoi was appointed to Schrödinger's Board of Directors in May 2022. He will serve on the company's Audit Committee. (Photo: Business Wire)

“We are very pleased to welcome Arun to our Board,” said Ramy Farid, Ph.D., president and chief executive officer of Schrödinger. “Arun’s deep experience building and leading an enterprise software company will be valuable to Schrödinger as we grow our business and pursue our mission to improve human health and quality of life.”

Mr. Oberoi is the former executive vice president, global sales and services, of Red Hat, the world’s leading provider of enterprise open source software solutions, where he served from 2012 to 2021. Prior to Red Hat, Mr. Oberoi played critical leadership roles in building software businesses spanning a diverse range of companies, from startups to midsized and Fortune 100 enterprises. He was chief executive officer of Viridity Software from 2010 to 2012 and chief executive officer of Aveksa from 2008 to 2010. He served as an executive vice president of global sales and technical services of Micromuse from 2004 to 2008. Prior to joining Micromuse, Mr. Oberoi held a series of senior executive positions at Hewlett-Packard, including vice president and general manager, worldwide corporate accounts and industries, sales and marketing. Mr. Oberoi serves on the board of directors of Deeplite as well as Proofpoint and Talend, which are both portfolio companies of Thoma Bravo, L.P. Mr. Oberoi received his bachelor's degree from Delhi University and has an MBA from the Kellogg School of Management at Northwestern University.

“It’s an honor to join Schrödinger’s Board of Directors and to be part of a company that is having such a purposeful impact on how therapeutics and materials are designed,” said Arun Oberoi. “I look forward to contributing to Schrödinger's future growth and success during this exciting time."

About Schrödinger
Schrödinger is transforming the way therapeutics and materials are discovered. Schrödinger has pioneered a physics-based software platform that enables discovery of high-quality, novel molecules for drug development and materials applications more rapidly and at lower cost compared to traditional methods. The software platform is used by biopharmaceutical and industrial companies, academic institutions, and government laboratories around the world. Schrödinger’s multidisciplinary drug discovery team also leverages the software platform to advance collaborative programs and its own pipeline of novel therapeutics to address unmet medical needs.

Founded in 1990, Schrödinger has over 700 employees and is engaged with customers and collaborators in more than 70 countries. To learn more, visit www.schrodinger.com follow us on LinkedIn and Twitter, or visit our blog, Extrapolations.com.

Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 including, but not limited to those regarding our expectations about the speed and capacity of our computational platform, and our plans to accelerate the growth of our software business and advance our collaborative and internal drug discovery programs. Statements including words such as “aim,” "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," “goal,” "intend," "may," "might," "plan," "potential," "predict," "project," "should," "target," "will," "would" and statements in the future tense are forward-looking statements. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Actual results may differ materially from those described in the forward-looking statements and are subject to a variety of assumptions, uncertainties, risks and factors that are beyond our control, including the demand for our software solutions, our ability to further develop our computational platform, our reliance upon third-party providers of cloud-based infrastructure to host our software solutions, our reliance upon our third-party drug discovery collaborators, the ability to retain and hire key personnel and the direct and indirect impacts of the ongoing COVID-19 pandemic on our business and other risks detailed under the caption "Risk Factors" and elsewhere in our Securities and Exchange Commission filings and reports, including the Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 4, 2022, as well as future filings and reports by us. Any forward-looking statements contained in this press release speak only as of the date hereof. Except as required by law, we undertake no duty or obligation to update any forward-looking statements contained in this press release as a result of new information, future events, changes in expectations or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220519005040/en/

Jaren Irene Madden (Investors)

Schrödinger, Inc.

jaren.madden@schrodinger.com

617-286-6264



Tracy Lessor (Media)

Schrödinger, Inc.

tracy.lessor@schrodinger.com

617-519-9827

Source: Schrödinger, Inc.

FAQ

Who is Arun Oberoi and what is his role with Schrödinger?

Arun Oberoi has been appointed to Schrödinger's Board of Directors and will serve on the Audit Committee.

What experience does Arun Oberoi bring to Schrödinger?

Arun Oberoi has extensive experience in building enterprise software companies, including his previous role as executive vice president at Red Hat.

When was Arun Oberoi appointed to the Board of Directors?

Arun Oberoi was appointed to the Board of Directors on May 17, 2022.

How does Arun Oberoi's appointment impact Schrödinger?

His appointment is expected to strengthen leadership and support the company's growth strategy in therapeutics and materials discovery.