Shantha Biotechnics Limited, part of Sanofi Pasteur will have a new Chief Executive Officer (CEO) in Dr Harish Iyer from Monday. As part of the top level changes, the company's founder, Mr K.I. Varaprasad Reddy will be the Chairman of the Board, a non-executive director.
Sanofi Pasteur the vaccine maker and part of the Sanofi Group acquired Shantha Biotechnics based in Hyderabad in 2009.
According to Mr Olivier Charmeil, President and CEO of Sanofi Pasteur. Dr Iyer would also be a member of the Sanofi Pasteur Management Committee. Sanofi supplies more than a billion doses of various vaccines annually.
Mr Reddy has been responsible for steering the company since 1993 to launching a clutch of vaccines starting from Hepatitis B to the latest pentavalent (5 in one, hepatitis B, DPT, Hib combination)) vaccine and growing it.
Institute Merieux of France first acquired majority stake (60 per cent in 2006) in Shantha (from Omanese investors et al), followed by Sanofi Pasteur, which bought the stake from Merieux in 2009.