Two New Faces On Hoechst Marion Board

Two new directors are being inducted on the board of Hoechst Marion Roussel (HMR) in India. H Moerler and FL Douglas are the two global executives to make their entry. Besides, two alternate directors, Bashir Ahmed and R Subrahmaniam, are also joining the board.

These changes are to be approved by HMR shareholders at the annual general meeting (AGM) of the company on August 26. According to company sources, the strength of the board will continue to be eight, with three alternate directors.

Those to continue on the board are Vijay Mallya, D Bhadury, S R Gupte, Dunoyer, B Hofmann and P N Venugopalan.

 

After the world-wide restructuring of Hoechst AG, Germany, its pharmaceutical wing, Hoechst Marion Roussel, was hived off into a separate company.

As a result, the Rs 386.9-crore pharmaceutical subsidiary in the country is now a part of Hoechst Marion Roussel, Germany.

AGH Theunis, who is alternate director to JM Volat and KE Dietz, will also not be on the board. The global executives on the Indian subsidiarys board will now be FL Douglas and H Moerler. S Chattopadhyay will be alternate director to Douglas, while Subrahmaniam will be alternate director to Moerler.

Chattopadhyay is also to continue as alternate to J Reden. Bashir Ahmed will be alternate director to Dunoyer.

E Baltin, research head in India and executive vice-chairman of HMR, and KE Dietz had retired from the board last year.