Piramal Pharma Ltd (PPL) on Thursday announced the addition of three members to its board of directors. Peter Stevenson, Nathalie Leitch and Sridhar Gorthi have been inducted into the board. These new appointments, which come ahead of the planned de-merger of PPL from Piramal Enterprises Ltd (PEL), will assist us in maintaining high governance for the new listed corporate entity, the company claimed.
“Under the de-merger 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 company said in its press statement on Thursday.
According to the Pharma major, the appointments will add to the well-diversified experience that currently exists on the PPL board. Led by Chairperson Nandini Piramal and Piramal Global Pharma CEO Peter DeYoung, the Piramal Pharma board also includes leaders such as S Ramadorai, Neeraj Bhardwaj, Jairaj Purandare and Vivek Valsaraj.
“Peter Stevenson brings in-depth knowledge in contract manufacturing, business operations, supply chain management and operating in complex regulatory environment. 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. Natalie Leitch is a subject matter expert in pharmaceuticals and the US generics industry, with domain experience in creative product strategies and formulations,” the company announced on Thursday.
“We welcome the new members to the PPL board. Having a diversified, experienced global board will strengthen our governance, as we vertically de-merge from PEL and become a listed entity. 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,” Nandini Piramal, Executive Director, Piramal Enterprises and Chairperson of Piramal Pharma Ltd board said in a statement.