Dr Reddy's Lab appoints GV Prasad as chairman

Pharma company Dr Reddy's Laboratories Ltd Monday said it has appointed GV Prasad as chairman and CEO, and Satish Reddy as vice chairman.

Reddy will continue to be the company's managing director and chief operating officer. The appointments follow the company's promoter and chairman K Anji Reddy passing away on March 15.

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The company's board have "appointed GV Prasad, presently vice-chairman and CEO as the chairman and CEO and Satish Reddy as vice-chairman in addition to his present role of managing director and COO, effective from 30 March, 2013," Dr Reddy's Laboratories said in a statement.

All other terms and conditions of their appointments like remuneration, tenure, as approved by the shareholders at their general meetings, remain the same, it added. Dr Reddy's scrip closed at Rs 1,825.30 on the BSE, up 3.34 percent from the previous close.