Dr Reddy’s announces senior-level structural changes

Dr Reddy's Laboratories has announced a number of changes to its senior management team structure in order to aid its ambitious growth plans.

The role of chairman of the company is to be separated from that of managing director and chief executive officer (CEO) under the planned reorganisation. Satish Reddy – formerly the vice-chairman, managing director and chief operating officer – has been named as the new chairman.

Meanwhile, GV Prasad will continue as the CEO, while taking on the additional titles of co-chairman and managing director.

It was also announced that Abhijit Mukherjee, the firm's global generics president, has been appointed as chief operating officer. 

Mr Reddy said: "By reorganising our roles, we should be able to give further focus to distinct activities, while simultaneously providing space for internal growth to our talented senior management team."

This comes in the same week that Dr Reddy's announced its financial results for the 2014 business year. Its consolidated revenue performance during the 12 months represented a year-on-year increase of 14 percent.