In a continuing spate of high-level executive exits, Rajeev Sibal, head of India operations at Ranbaxy, has put in his papers. Sibal — a pharma industry veteran — is expected to join drug company Lupin later this month, where he will be responsible for India and other emerging markets, sources told TOI.
With Sibal’s exit, the only other senior executive left behind from erstwhile Ranbaxy — which was acquired by Sun Pharma — is Subodh Marwaha, head consumer (OTC), besides the MD, Arun Sawhney. Sun Pharma, run by billionaire businessman Dilip Shanghvi, is executing a massive manpower restructuring in the company he acquired recently. The rejig is expected to involve 150-odd senior executives and flatten roles in even R&D and certain manufacturing facilities.
Sibal, who is an old Ranbaxy hand having headed several key departments in the company earlier, was brought back from Glenmark Pharma to head the India operations in 2013. When contacted, he declined comment, while a Sun Pharma spokesperson said that the company does not comment on people movements.
Sun Pharma has executed three rounds of manpower rationalisation over the past few months, starting from the top-most level of president, percolating to vice-presidents and directors in the latest round. In the latest round, over a dozen top executives have been asked to leave the company, making it one of the biggest manpower rejigs in recent times.
“The massive manpower restructuring was done only after April, when all the regulatory clearances had come for Sun Pharma-Ranbaxy merger”, an industry expert said.
Sun Pharma completed the $4-billion acquisition of Ranbaxy in March, after the deal was announced in April last year. After taking charge, Sun Pharma made it a six-day week in Ranbaxy from a five-day one, and introduced frugal policies for domestic and international travel, the source added.
By Rupali Mukherjee