On the departure of Mr. N. Govindarajan (Govind) as the Managing Director, Mr. K. Raghunathan, Nonexecutive Chairman said, "On behalf of the Board, I would like to place on record our sincere note of thanks to Govind for the service he gave to the Company for more than a decade and his contribution towards making Aurobindo a leading Pharmaceutical company" and further welcoming Mr. K. Nithyananda Reddy in his new role as VC and MD, he stated, "Nithyananda Reddy is the ideal leader for Aurobindo at this stage in the Company's evolution. He has been a veteran at the Company and has always been with the Company in its journey since its initial days. His appointment will allow Aurobindo to focus on the strategic changes it needs to make in order to capitalize on the opportunities in the years ahead. Under his leadership, the Company will continue to strengthen the management team that will further build on Aurobindo's positioning in the pharmaceutical landscape. I am confident our stakeholders will join me in wishing Nithyananda Reddy the best for the added responsibility in the Company."
Mr. K Nithyananda Reddy added, "I am humbled to assume the responsibility of Managing Director and look forward to working with my colleagues on the Board and the Company on the business opportunities to execute on and to enhance value for our shareholders, employees and communities. I thank Govind for his service at Aurobindo over the last 10 years and wish him the best for his future endeavors."
He also added that given the current size, scale and strategic importance of the Company, we have identified multiple leaders to drive various businesses and they will be given the responsibility to drive the growth and profitability.
Mr. Nithyananda Reddy also stated that he will actively consider a broad-based consultation process as a critical part of his overall engagement initiatives with all the stakeholders of the Company that are being taken up.
Read also: Aurobindo Pharma MD N Govindarajan steps down
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