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SPARC appoints Anil Raghavan as new CEO, Dilip Shanghvi resigns as MD
New Delhi: Sun Pharma Advanced Research Company (SPARC) on Tuesday said Dilip Shanghvi has resigned as managing director of the company.
Shanghvi expressed his desire to step down and tendered his resignation as the MD with immediate effect, which was accepted by the board, SPARC said in a regulatory filing.
Shanghvi will, however, continue to be associated with the company''s board in his capacity as a non-executive director and chairman, it added.
It further stated that the board, on the recommendation of Nomination and Remuneration Committee, has appointed Anil Raghavan as chief executive officer (CEO) of the company with immediate effect for a term of five years till May 24, 2026.
Prior to joining SPARC, Raghavan served as the managing director of the India and Sri Lanka business of Quintiles, a global pharmaceutical services company.
SPARC was formed in 2007 through a demerger from drug major Sun Pharma.
Read also: SPARC reports positive results from Phase 3 trial of ocular hypertension treatment
Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751