Cairn India CFO tipped to join Ranbaxy

Indrajit Banerjee, executive director and chief financial officer (CFO) of Cairn India, is tipped to join Ranbaxy Laboratories Ltd as CFO. Before joining Cairn, Banerjee had also worked with pharmaceutical major Lupin.

In a filing to the Bombay Stock Exchange, Cairn India said Banerjee had resigned with effect from August 23 to take up a new position elsewhere. Banerjee had joined Cairn India in early 2007, after the company was listed. During his four-and-a-half year stint at Cairn India, he played a major role in putting the Rajasthan Development Funding plan in place, the company said.

A Ranbaxy spokesperson did not confirm the appointment of Banerjee, citing company policy that did not allow him to comment on appointments and exits. The position has been vacant since January, when Omesh Sethi left the company, six months after chief executive officer Atul Sobti quit the job, citing differences with Daiichi, the Japanese company that took over Ranbaxy in 2008.