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Dilip Shanghvi, manaing director, Sun Pharma has been appointed as chairman of Taro Pharmaceuticals. Sun Pharma's Israeli subsidiary- Taro also appointed Kalyanasundaram Subramanian, or Kal Sundaram, as Chief Executive Officer of the Company with effect from August 1, 2013. James Kedrowski, Interim Chief Executive Officer of Taro, is retiring next month.
In May last year, Shanghvi had stepped down as the chairman of Sun Pharma by appointing former CEO of Teva Pharma - Israel Makov as non-executive chairman. Shanghvi remains the company’s managing director.
Mr. Sundaram had relinquished the position of chairman in light of Israeli legal restrictions on simultaneously holding the chairman and CEO position of an Israeli public company. "Taro’s board addressed this matter by appointing Dilip Shanghvi as a director to fill the vacancy left by Aalok Shanghvi’s (Son of Dilip Shanghvi) resignation from the board and to serve the board as its chairman," stated the company release.
Dilip Shanghvi, stated, “Jim Kedrowski has played a key role in helping Taro attain its goals. Since Jim’s taking the helm of Taro in 2010, Taro has seen significant growth in revenues and profits. We are pleased that we will continue to benefit from his presence on Taro’s Board.”
