Novartis India on Wednesday said its Vice-Chairman and Managing Director Milan Paleja has decided to step down from the company from May 31, 2019. "Paleja has informed the company’s board of his decision to resign as the Vice Chairman and Managing Director effective May 31, 2019, for embracing challenges outside of Novartis, the company said in a notice to the stock exchanges. The company’s board has requested the nomination and remuneration committee to identify and recommend a suitable successor for the role, it added. Shares of Novartis India jumped 7.40 per cent at ₹741.65 on the BSE.

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