NEW DELHI, Aug 27: Drug firm Aurobindo Pharma today said its board has approved the appointment of PV Ramprasad Reddy as Executive Chairman of Aurobindo Pharma USA, Inc.
“Board of Directors of the company at its meeting held on August 25, 2012, has approved the proposal of appointment of PV Ramprasad Reddy as Executive Chairman of Aurobindo Pharma USA, Inc, the wholly-owned subsidiary of the company w.E.F. December 1, 2012,” Aurobindo Pharma said in a filing to BSE.
The said proposal is subject to further approval of the shareholders of the company, it added.
Accordingly, an extra ordinary general meeting (EGM) of the company is being convened on September 27, 2012, the company said.
Consequent to his proposed appointment in the company’s US subsidiary, the board has also approved Reddy relinquishing the executive responsibilities as whole time director of the firm and his continuation as a non-executive director of the company not liable to retire by rotation with effect from December 1, 2012, it added.
(PTI)
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