09 July 2016 Current Affairs: Taro Pharmaceutical Industries Ltd. has announced that its CEO, Mr. Kal Sundaram, has stepped down. He will return to India, to assume an executive position at Sun Pharma’s global headquarters after the completion of his assignment at Taro at the end of 2016.
Taro Pharmaceutical is the US arm of Sun Pharma. Sun Pharma acquired a controlling stake in Taro in 2010. The Company’s Board will conduct a formal process to appoint a CEO to solely focus on Taro. Mr. Sundaram will assist the Board with its search, and will remain with Taro through the end of 2016 to ensure a smooth and successful transition for his successor.
Kal Sundaram, also known as Kalyanasundaram Subramanian, became CEO of Taro in April 2012. He had been Sun Pharma’s CEO since April 2010 and played a role in accelerating the company’s growth in India and other emerging markets.
Sundaram has almost three decades of experience, much of which has been in the pharmaceutical industry, largely with GlaxoSmithKline Plc. (GSK), where he has held the country, regional and global responsibilities. Sundaram left GSK India as its managing director.