Hoechst Marion Board To Have 4 New Directors

Four new directors are being inducted on the Hoechst Marion Roussel (HMR) board in India. H Moerler, F L Douglas, Bashir Ahmed and R Subrahmaniam are the new entrants.

The change is among others that will alter the constitution of the HMR board after the shareholders approve them at the company's annual general meeting on August 26.

According to company sources, the strength of the board will, however, remain 12 as four other directors will no longer be with the Indian subsidiary of Hoechst Marion Roussel, Germany.

After the worldwide restructuring of Hoechst AG, Germany, its pharmaceutical wing, Hoechst Marion Roussel had been hived off into a separate company. As a result, the Rs 386.9-crore pharmaceutical subsidiary in India is now a part of Hoechst Marion Roussel, Germany.

 

The directors who have either left or are leaving the HMR board are J Reden, J M Volat, K E Dietz, E Baltin and A G H Theunis. Theunis was alternate director to J M Volat and K E Dietz.

E Baltin, who was the research head in India and exceutive vice-chairman of HMR, and K E Dietz had retired from the board last year.

Those from the earlier board who will continue are Vijay Mallya, D Bhadury, S R Gupte, B Hofmann and P N Venugopalan. Vijay Mallya is the chairman and Debabrata Bhadury is managing director of Hoechst Marion Roussel.

The global executives on the Indian subsidiary's board are

F L Douglas and H Moerler. F L Douglas is the global research head and H Moerler is a global executive from Tokyo.

S Chattopadhyay will be alternate to Douglas while Subrahmaniam will be alternate to Moerler. Bashir Ahmed will be alternate director to Dunoyer, who is a current board member.

Chattopadhyay will also continue as alternate director to J Reden. Reden has taken up another global assignment on behalf of the German parent, said Hoechst sources.