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      Ranbaxy Rejigs Global Management Team

      Posted AtThe Economic Times

      Ranbaxy Laboratories has decided to rejig the senior management team of its global operations. Atul Sobti, who quit as executive director, Hero Honda, a couple of months ago, is set to become president-India, Middle East, Asia-Pacific and global consumer health care (GCHC) operations of the pharma major.

      In addition to Mr Sobti's induction, Ranbaxy is also shuffling the heads of its regional businesses. Atul Malhotra, who is currently looking after the company's Asia Pacific and Middle Eastern regions, as well as its OTC business, will be moving to the US and re-designated as president-North America. He will have full operational responsibility and report to Dipak Chattaraj, current regional director of the North American operations, who is being appointed as chairman of Ranbaxy Inc, USA.

      Peter Beruma, who heads the Europe, Africa and CIS operations, will assume charge of Latin America in addition to his current portfolio. All these changes will come into effect from November 1, '05.

      Significantly, this reshuffle is taking place at a time when Ranbaxy's financial performance is under severe pressure, due to price erosion in the US generic market and high R&D costs. For the third quarter of the current year, its post-tax profits have declined by 90% and for the first nine months, the company's net profit has dwindled by 66%. In the US market, which had been a key growth driver for the company in recent years, Ranbaxy's third quarter sales declined by 25% due to pricing pressures in the generics segment.
      According to Ranbaxy, the movement among senior personnel will enable the company to build management depth and reinforce its operating structures."It is our constant endeavour to build management depth and leadership across the organisation in response to growth dynamics. Also, our increasing geographical spread across the globe necessitates reinforcement of operating structures to ensure effectiveness for the company and its people," said a company spokesperson.

      Mr Sobti, who joined the company a few days ago, will report to Malvinder Singh, president-pharmaceuticals, Ranbaxy.

      Mr Chattaraj, in his new role, will focus on business development support for both regional and global M&A activities, along with government affairs and communication. According to the company, he will work on key global assignments and projects and will report to Malvinder Singh.

      Sanjeev Dani is being assigned additional responsibility for Middle East. Dani will be re-designated as regional director" India & Middle East and will report to Mr Sobti.

      October 26, 2005


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