Dr Reddy’s appoints new chairman and vice-chairman

Dr Reddy's has made a number of changes to its key leadership team based on the recommendations of its nomination, governance and compensation committee.

From March 30th 2013, the company's chief executive officer GV Prasad has been promoted from vice-chairman to chairman, while Satish Reddy will take up the vice-chair role in addition to his existing responsibilities as managing director and chief operating officer.

According to a statement from the firm, all other terms and conditions of their respective appointments – including remuneration and tenure – remain the same as those approved by shareholders during previous general meetings.

Dr Reddy's Laboratories is one of India's most prominent healthcare companies, operating a network of more than 16,000 worldwide associates and a total of 18 manufacturing facilities, including a UK site in Cambridge.

Last month, the business paid tribute to its late founder Dr K Anji Reddy, a widely-acclaimed healthcare pioneer and philanthropist who recently passed away in Hyderabad following a period of illness.