Drug firm Sanofi India today said its board has elected the company’s independent director Aditya Narayan as its Chairman.
He will hold the “office as long as he is an independent director of the company,” Sanofi India said in a filing to BSE.
On March 23, 2016, beleaguered liquor baron Vijay Mallya, who had been the Chairman of the drug maker for over 32 years, had announced that he would retire as Chairman of Sanofi India and will not seek re-election for the post.
In an earlier filing to BSE on March 23, Sanofi India had said its Board had accepted Mallya’s decision.
“Consequently, Mallya will cease to be a Director and Chairman of the Board of Directors of Sanofi India Ltd at the conclusion of the company’s AGM,” the company had said.
Narayan was elected as an independent director for an initial term of five years from April 30, 2016 by the company’s shareholders at the AGM held on April 29 this year.
The board also approved the appointment of the company’s chief financial officer, Lionel Guerin, as an additional director from June 2, 2016.
The board also accpeted resignation of the company’s non-executive director Virginie Bouchina as a director from today.
Shares of Sanofi India today closed at Rs 4,337.30 on BSE, up 2.41 per cent from its previous close.