Piramal Pharma appoints 3 new board members

Piramal Pharma Ltd (PPL) on Thursday announced the appointments of Peter Stevenson, Nathalie Leitch and Sridhar Gorthi on its board as part of its plan to bolster business insight and augment organic growth and acquisition strategies.

Stevenson brings in-depth knowledge in contract manufacturing, business operations, supply-chain management and operating in a complex regulatory environment, the company said in a statement.

On the other hand, Gorthi is an authority in corporate law, M&A and private equity. His experience spans across manufacturing, pharmaceuticals, insurance, banking and financial services, technology, telecom and media, it added.

Leitch is a subject matter expert in pharmaceuticals and the US generics industry, with domain experience in creative product strategies and formulations, the company said.

These new appointments come ahead of the planned de-merger of PPL from Piramal Enterprises Ltd (PEL) and will assist the company in maintaining high governance for the new listed corporate entity, the statement said.

The de-merger of PPL was announced in 2021 and upon approval by the National Company Law Tribunal (NCLT), it will be listed on NSE and BSE in India, it added.

PPL is currently led by Chairperson Nandini Piramal and Piramal Global Pharma CEO Peter DeYoung. The company's other board members include industry leaders S Ramadorai, Neeraj Bhardwaj, Jairaj Purandare and Vivek Valsaraj.

Commenting on the appointments, Nandini Piramal said, "Having a diversified, experienced global board will strengthen our governance, as we vertically de-merge from PEL and become a listed entity." She further said, "The wisdom and knowledge the new members bring will not only enhance the overall expertise of the board, but also provide crucial insights to the businesses, as we scale up our global presence by pursuing both organic and inorganic growth."

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