Almost a year after sealing a deal to sell his family's 34.8% stake in Ranbaxy Laboratories, India's leading generics drugs maker, to Japanese pharma giant Daiichi Sankyo for a cool $2 billion, billionaire Malvinder Singh stepped down from his post of chairman, CEO and managing director.
Two directors nominated by Singh to Ranbaxy's 10-member board, also resigned, marking the end of the Singh family's 48-year hold over the company. Ranbaxy was founded by Malvinder Singh's grandfather Bhai Mohan Singh in 1961.
More
No comments:
Post a Comment