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Sun Pharma Chairman, Israel Makov to retire on completion of term

Posted On : 2022-08-03 09:38:59( TIMEZONE : IST )

Sun Pharma Chairman, Israel Makov to retire on completion of term

Sun Pharmaceutical Industries Limited (Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUNPHARMA, BSE: 524715, "Sun Pharma" including its subsidiaries and/or associate companies), today announced that its Chairman and member of the Board, Mr Israel Makov, will retire from the company upon the completion of his current term post Sun Pharma's Annual General Meeting on August 29, 2022, after having led the organisation for 10 years. He was appointed a Board member and the Chairman in 2012.

Under his leadership, Sun Pharma transformed from a US$ 1.7 billion organisation focusing on India and the US into the world's fourth largest specialty generic pharmaceutical company operating across 100+ markets with a turnover of over US$ 5 billion. Leading the company's global expansion, he guided the acquisition of Ranbaxy in 2014, making Sun Pharma the leader in the Indian pharmaceutical market and a strong player globally. Mr Makov helped steer the company to pursue its strategy of building a global pipeline of specialty products.

Mr Israel Makov said "I was fortunate to be part of the thrilling journey of Sun Pharma becoming a major global player in the pharmaceutical industry. I especially enjoyed working with the talented executives of Sun Pharma who participated in the company's transformation and successfully led the process of change. I am proud of what this incredible company has accomplished and am grateful to my colleagues and all the members of the Board for their trust and support."

Sharing his thoughts on the contributions of Mr Israel Makov, Sun Pharma Managing Director, Mr Dilip Shanghvi said, "We thank Mr Makov for his visionary leadership and his contribution towards making Sun Pharma a global pharmaceutical company. I have always admired his business acumen and strategic orientation. Mr Makov has played a significant role in Sun Pharma's global expansion in the last decade. He guided the company into its next phase of growth with focus on innovation and adoption of newer technologies. The Board is sincerely grateful to Mr Makov for his dedication and wishes him all the best for the future."

Shares of Sun Pharmaceutical Industries Limited was last trading in BSE at Rs. 916.75 as compared to the previous close of Rs. 918.55. The total number of shares traded during the day was 47155 in over 2134 trades.

The stock hit an intraday high of Rs. 926.10 and intraday low of 912.50. The net turnover during the day was Rs. 43247908.00.

Source : Equity Bulls


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