After Wockhardt, winds of change are blowing across another pharma company Piramal Healthcare with chairman and promoter Ajay Piramal's daughter Nandini joining the company as executive director.
Over recent months, Schauna Chauhan in Parle, Meher Pudumjee in Thermax and Tanya Dubash in Godrej have taken over key position in their respective companies.
Prior to her induction on Piramal Healthcare's board, Nandini was working as the executive director of the company's Canada business. She joined the company four years back, and has an expertise in the company's contract manufacturing business.
Earlier, she worked as the company's general manager (strategic marketing), and during that time she was associated with the company's overseas subsidiaries and gained deep insight into the group's pharma solutions business, a company official said.
She played a key role in implementation of operational excellence projects of the company's overseas facilities in UK and Canada, and has been actively involved in due diligence of acquisition and joint venture targets. Commenting on her joining the board, Ajay Piramal told TOI that she will supplement the senior management team.
Piramal Healthcare director and Nandini's mother Swati Piramal said, "It is good to have young blood in the company. The company has been growing strongly and we hope that Nandini and Anand (who are 29 and 23 years old), will contribute to make it stronger."
Ajay Piramal's son Anand is the chief operating officer of the group's healthcare venture and will continue to hold that responsibility. Nandini is an MBA from Stanford Graduate School of Business and has worked with McKinsey as a business analyst, while Anand will be pursuing an MBA.
In another development, the company is shutting its manufacturing unit in the UK as it was not very profitable. It will now left with two facilities in that country.
The plant had recorded revenue of 19 million pounds in fiscal 2008-09. The company would record Rs 71 crore as a one-time charge in the January-March quarter due to the shutdown, he added. "We are discontinuing operations in Huddersfield so that we could shift the operation from there to our other facilities in the UK and India," Piramal added.