This appointment is subject to approval of the shareholders at the upcoming annual general meeting, the release said.
Shanghvi will continue as the Executive Chairman of the Board. He will focus on strengthening Sun Pharma’s specialty portfolio and provide insights towards shaping company’s long-term strategy.
Under Ganorkar’s leadership, the company’s India business has grown consistently, further increasing its market share.
He has previously held various leadership roles across business development, marketing, M&A, new product introduction, project management, IP and litigation at Sun Pharma.
Ganorkar played a key role in driving Sun Pharma’s foray into specialty by securing rights for innovative products such as Ilumya. He led Sun Pharma’s entry into Japan and laid initial groundwork for the company’s entry into Europe. He supported the US business with stewardship of several notable generic projects from concept to commercialisation.A chemical engineer and MBA, Ganorkar joined Sun Pharma in 1996.”Sun Pharma is at an exciting juncture with all its businesses well-positioned for growth. Building on the strong foundation laid by Mr Shanghvi and ably supported by our global leadership team, I’m confident of continued success of the company,” Kirti Ganorkar, Managing Director (Designate) of Sun Pharma stated in the press release.
Dilip Shanghvi, Chairman & Managing Director of Sun Pharma said: “Kirti has consistently demonstrated effective leadership managing diverse roles at Sun. I have a firm belief in his ability to lead the company into its next phase of growth and extend my best wishes for his success. Kirti’s elevation showcases our strong in-house talent pool, ensuring continuity of Sun’s core value systems.”
The company also said that Abhay Gandhi – President & CEO, North America, has decided to pursue his interests outside Sun Pharma.
Richard Ascroft will be joining as CEO – North America, succeeding Gandhi. Ascroft is a seasoned biopharmaceutical executive with more than three decades of experience spanning commercial operations, market access, medical affairs, and corporate affairs across the U.S. and global markets. Most recently, he served as Senior Vice President and Business Unit Head of US plasma-derived therapies at Takeda Pharmaceuticals, and was a member of both the US and global executive leadership teams.
Aalok Shanghvi – Whole-time Director and Chief Operating Officer, has been additionally entrusted with the responsibility for the North America business wherein Ascroft will report to Aalok.
