Apotex CEO Desai resigns - Globe and Mail

(Reuters) - Generic drugmaker Apotex Inc's Chief Executive Jeremy Desai resigned and will be replaced by his predecessor and co-founder Jack Kay, the Globe and Mail reported on Friday.

Desai "resigned to pursue other opportunities. His notice is effective immediately," the newspaper said, citing a written statement from Apotex.

The company's billionaire-founder Barry Sherman, who died in December, failed to implement a succession plan, potentially leaving it vulnerable to takeover approaches, Reuters had reported.

Apotex was not immediately available for comment.

(Reporting by John Benny in Bengaluru; Editing by Anil D'Silva)