Saturday, August 13, 2022

Sun Pharma chairman Israel Makov will retire on August 29

Must read

Shreya Christinahttps://cafe-madrid.com
Shreya has been with cafe-madrid.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider cafe-madrid.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

  • Israel Makov will retire after his position Sun PharmaGeneral Members Meeting on August 29.
  • Israel Makov has headed Sun Pharma’s board for the past ten years.
  • Sun Pharma has not yet named a replacement for Makov.

Israel Makov, the chairman and board member of Sun Pharmaceutical Industries Ltd, will retire at the end of his current term on Aug. 29, 2022, the company said in a statement on Wednesday.

The company has not yet announced Makov’s replacement.

Makov has led the board of Sun Pharma for the past ten years. He was appointed board member and chairman of the company
in 2012. The pharmaceutical company has expanded its position outside of India and the US to more than 100 markets under his leadership, making it the fourth largest specialty generic pharmaceutical company in the world.

“I was fortunate to be part of Sun Pharma’s exciting journey to become a major global player in the pharmaceutical industry. I especially enjoyed working with Sun Pharma’s talented executives who have participated in the transformation of the company and successfully led the change process,” said Makov.

The company’s revenue has grown from $1.7 billion to $5 billion in the past decade, Sun Pharma said. Makov — a former president and CEO of Teva Pharmaceutical Industries — also oversaw the acquisition of Ranbaxy in 2014, strengthening the company’s position in the pharmaceutical industry.

Makov was also the former chairman of Given Imaging, which developed and supplied capsule endoscopy, and Netafim, which developed smart irrigation systems. He also founded Israel’s first biotech company Interpharm, which went public in the US.

Dilip Shanghvi, the general manager of Sun Pharma, said: “I have always admired his business acumen and strategic orientation. Mr. Makov has played a key role in Sun Pharma’s global expansion over the past ten years. He led the company into the next phase of growth with a focus on innovation and adoption of newer technologies.”

Shares of Sun Pharma fell slightly after announcing to trade at 10:06 am on August 3 at ₹909.7 at 10:06 am. In total, the company’s shares are up 7.27% since the beginning of this year.

ALSO SEE

Rupee’s worst decline may be over as market expects US Fed to slow pace of increases

Markets in a wait and watch mode while waiting for signals from RBI

As new cars get more expensive, used BMWs, Audis and Porsches become more attractive

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article