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Taro appoints new chairman
April 18th, 2012
HAWTHORNE, N.Y. – Kal Sundaram has been named chairman of the board of directors at Taro Pharmaceutical Industries Ltd.
The company said Wednesday that Sundaram was appointed to the post with the resignation of chairman Dilip Shanghvi, who is slated to focus on other growth priorities within parent Sun Pharmaceutical Industries Ltd.
Plans call for Sundaram to serve as chairman until Taro’s next annual general meeting of shareholders.
Sundaram has been Sun Pharma's chief executive officer since April 2010 and focused on accelerating Sun Pharma's growth in India and other emerging market countries and developing strategic alliances with other leading pharmaceutical firms. He has nearly three decades of regional/global experience, mostly in the pharmaceutical industry with GlaxoSmithKline. As its Managing Director, he led the turnaround of GSK India, and in a regional role, he spearheaded the company's differentiated and region-specific emerging markets strategy.
"Taro has made great strides since Sun Pharma took control in September 2010 and is now once again listed on a major exchange," Shanghvi said in a statement. "I am pleased that Mr. Sundaram has agreed to join Taro's board and take over as its chairman. This role is also in line with his new responsibility for Sun Pharma group's strategic business interests in North and South America."