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G.V. Prasad has been appointed Chairman and Chief Executive Officer of pharma major Dr Reddy’s Laboratories Ltd.
The appointment was made by the board of directors of the Hyderabad-based company on the recommendation of the nomination, governance and compensation committee, the company informed the Bombay Stock Exchange on Monday.
G.V. Prasad is the son-in-law of Dr Reddy’s Labs founder-chairman K. Anji Reddy who passed away last month. He is now the vice-chairman and chief executive officer of the company.
Dr Anji Reddy’s son and present managing director and chief operating officer, K. Satish Reddy, has been made Vice-Chairman of the company.
Dr Reddy’s scrip gained 3.34 per cent to Rs 1,825 on the Bombay Stock Exchange on Monday.
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