Mumbai, March 13 : The board of Rhone-Poulenc India has been restructured. The move is a direct fallout of the acquisition of the company by Nicholas Piramal India Ltd (NPIL). Rhone-Poulenc board members --chairman Mr DD Chopra, managing director Mr Neil Goodes and other directors Mr ML Apte, Dr JC Kothari, Mr Richard Colquohoun, Mr Nigel Toft, Mr Pierre Laguerre and Mr Bernard Reculean - have tendered their resignation, which has been accepted.Rhone-Poulenc India deputy managing director, Mr JC Jani has been elevated as managing director of the company. The new Rhone-Poulenc India board now comprises: Nicholas Piramal chairman Mr Ajay G Piramal, Mr RA Shah, Mr Shailesh Haribhakti, Mr MR Pai, Nicholas Piramal chief operating officer Mr Vijay Shah and chief financial officer Mr Mahesh Gupta.NPIL had acquired a 40 per cent stake in Rhone-Poulenc India Ltd and followed it up with an open offer to minority shareholders for an additional 20 per cent stake in RPIL at Rs 875 per share.
RPIL's current brands in the Indian market are now licenced in perpetuity from Aventis Pharma to RPIL, both in the country and in some neighbouring countries.
The company will have considerable flexibility in taking key decisions regarding the brands, including line extensions composition and sourcing. RPIL has two manufacturing facilities - one at Bhandup and the other at Paithan in Maharashtra, backed by a 438 member marketing team.
Astra IDL MD calls it quits
Astra IDL managing director, Mr AR Hegde, has resigned from the company. The resignation is effective from the conclusion of the company's extraordinary general meeting to be held on March 29, 2001. The resignation has been accepted by the Astra board on March 13 and has been communicated to the Bombay Stock Exchange (BSE). Mr Lars Wallen, a Swedish national, will succeed Mr Hegde.
Mr Wallen has been nominated by Astra Pharmaceuticals AB, Sweden, which is the majority shareholder and part of the AsraZeneca group. Mr Wallen's appointment is effective from April, 2001.
Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
