Abbott India Ltd has appointed Ambati Venu as Managing Director, the multinational said after its board meeting today. The announcement comes almost five months after its previous MD Rehan Khan resigned from the multinational in April.
The new appointment is for a five-year term and Venu will report to Bhasker Iyer, Vice President with Abbott’s Established Pharmaceuticals Division. Venu’s move to Abbott follows a 24 year long corporate career with GlaxoSmithKline Consumer Healthcare. Drugmakers in India have been seeing major changes at the top. In fact, earlier this year fellow multinational Pfizer saw the appointment of S Sridhar as the new MD, again almost five months after Aijaz Tobaccowalla resigned from the post.
Last year also saw GlaxoSmithKline Pharmaceuticals appoint Annaswamy Vaidheesh as Managing Director in the place of Dr Hasit Joshipura, who moved out of the company.