Piramal Pharma strengthens board by inducting three new board members

7-Jul-2022

In its ongoing mission to bolster business insight and further augment their organic growth and acquisition strategies, Piramal Pharma Ltd (PPL) has announced the addition of three members to its board of directors

We are pleased to welcome Mr Peter Stevenson, Ms Nathalie Leitch and Mr Sridhar Gorthi to the board. These new appointments, which come ahead of the planned demerger of PPL from Piramal Enterprises Ltd (PEL), will assist us in maintaining high governance for the new listed corporate entity.

Under the demerger announced in 2021 and upon approval by the Hon’ble National Company Law Tribunal (NCLT), Piramal Pharma Ltd will be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) in India.

As an independent listed entity with a profitable growth strategy, PPL will be well equipped to support the needs of its customers and help reduce the burden of disease on patients.

The appointments will add to the well-diversified experience that currently exists on the PPL board. Led by Chairperson Ms Nandini Piramal (pictured) and Piramal Global Pharma CEO, Mr Peter DeYoung, the Piramal Pharma board also includes leaders such as Mr S. Ramadorai, Mr Neeraj Bhardwaj, Mr Jairaj Purandare and Mr Vivek Valsaraj.

Mr Peter Stevenson brings in-depth knowledge in contract manufacturing, business operations, supply chain management and operating in complex regulatory environment.

Mr Sridhar 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.

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

On the appointments, Ms Nandini Piramal, Executive Director, Piramal Enterprises and Chairperson of Piramal Pharma Ltd board, commented: “We welcome the new members to the PPL board. Having a diversified, experienced global board will strengthen our governance, as we vertically demerge from PEL and become a listed entity."

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"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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