The drug company, Novartis India has announced that its India Managing Director and Chairman, Milan Paleja has resigned and has decided to step down from the company, with effect from May 31, 2019.
“We wish to inform you that, Mr Milan Paleja, Vice Chairman & Managing Director of the Company has informed the Board of Directors today of his decision to step down as the Vice Chairman & Managing Director, effective close of business hours on May 31, 2019 for embracing challenges outside of Novartis.” the company said in a BSE filing.
The company’s board has requested the nomination and remuneration committee to identify and recommend a suitable successor for the role.
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