Apollo readies succession plan; two in the race

Jul 03 2014, 01:13 IST
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Shobana Kamineni (left) with Preetha Reddy Shobana Kamineni (left) with Preetha Reddy
SummaryAccording to a filing with the bourses, Preetha, Sangita and Suneeta Reddy’s terms in their new capacity will continue till February 2016

Godrej’s daughter, who is an executive director and president (marketing) for the Godrej Group; Nisaba Godrej, also Adi Godrej’s daughter, who is an executive director on the board of Godrej Consumer Products; and Roshni Nadar, Shiv Nadar’s daughter, who is the chief executive and executive director of HCL.

According to a filing with the bourses, Preetha, Sangita and Suneeta Reddy’s terms in their new capacity will continue till February 2016. Shobana Kamineni’s term, which was to end in January 2015, has been extended by the company’s board for another five years.

Preetha Reddy will be responsible for reviewing global medical advancements and “introduction of contemporary protocols to further enhance clinical outcomes”, the company’s statement said, adding she will work closely with the firm’s clinicians towards this end. Additionally, she will also look after the healthcare company’s international business and enterprise risk management.

Shobana Kamineni will oversee the pharmacy chain, already the biggest in the country. She will also oversee the planning, design and execution of new projects while leading Apollo Global Projects Consultancy Division and continuing to be a whole-time director on the board of Apollo Munich Health Insurance. Suneeta Reddy will be in charge of Apollo’s corporate strategy, corporate finance, funding and investments, mergers and acquisitions, and brand and marketing. Sangita Reddy, who is currently an executive director in charge of operations, will become joint managing director and focus on technology initiatives like creating IT-enabled patient-centric operations within the company, human resources management, and spearhead Apollo’s health and lifestyle business.

All four currently serve as executive directors on Apollo’s board at present and will continue to do so. Apollo’s statement says there would be no change in the existing terms of their remuneration.

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