Piramal Pharma strengthens its Board of Directors by inducting three new directors

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12-Jul-2022

Mr. Peter Stevenson, Ms. Nathalie Leitch and Mr. Sridhar Gorthi join the Board

As part of Piramal’s ongoing mission to strengthen the business vision and strengthen our organic growth and acquisition strategies, Piramal Pharma (PPL) has added three members to its Board of Directors. The team is pleased to welcome Mr. Peter Stevenson, Ms. Nathalie Leitch and Mr. Sridhar Gorthi to the Board of Directors. These new appointments, which precede the proposed split between PPL and Piramal Enterprises (PEL), will help us maintain high governance for the new listed entity.

As part of the split announced in 2021 and after approval by the Hon’ble National Company Law Tribunal (NCLT), Piramal Pharma will be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) in India. As an independent listed entity with a profitable growth strategy, PPL will be well equipped to meet the needs of its customers and help reduce the burden of disease on patients.

The appointments will add to the well-diversified experience that currently exists on the PPL Board. Led by President Ms. Nandini Piramal and CEO of Piramal Global Pharma, Mr. Peter DeYoung, the Board of Directors of Piramal Pharma also includes executives such as Mr. S Ramadorai, Mr. Neeraj Bhardwaj, Mr. Jairaj Purandare and Mr. Vivek Valsaraj.

Mr. Peter Stevenson brings extensive knowledge of contract manufacturing, business operations, supply chain management and operating in a complex regulatory environment. Mr. Sridhar Gorthi is an authority on corporate law, mergers and acquisitions and private equity. His experience spans manufacturing, pharmaceuticals, insurance, banking and financial services, technology, telecommunications and media. Ms. Natalie Leitch is a subject matter expert in the pharmaceuticals and US generics industry, with experience in creative product strategies and formulations.

Regarding the appointments, Ms. Nandini Piramal, Executive Director of Piramal Enterprises and Chairman of the Board of Piramal Pharma, said: “We welcome the new members of the Board of PPL. Having a diverse and experienced global Board of Directors will strengthen our governance as we vertically demerge from PEL and become a publicly traded entity. The wisdom and knowledge brought by the new members will not only enhance the overall expertise of the Board of Directors, but will also provide crucial insights to companies as we strengthen our global presence by pursuing both organic and inorganic growth.

Piramal Pharma full board includes:

Mrs. Nandini Piramal

Ms. Nandini Piramal is a visionary business leader driven by her commitment to improving society. She holds various positions such as President at Piramal Pharma, Head of Human Resources and IT Functions at Piramal Group, and of the Quality Unit at Piramal Pharma. She was instrumental in founding Piramal Enterprises, the only Indian company that is part of Willis Towers Watson Global High Performing Norm. Ms. Piramal also acts as an advisor to the Piramal Foundation and Piramal Sarvajal. She was recognized as one of “India’s Most Powerful Women” by Business Today in 2020 and as a “Young Global Leader” in 2014 by the World Economic Forum. Ms. Piramal holds a BA (Honours) in Politics, Philosophy and Economics and an MBA from the Stanford Graduate School of Business.

Mr Peter DeYoung

Mr. Peter DeYoung is the CEO of Piramal Global Pharma, Piramal Pharma Limited, and a member of the Board of Directors of Piramal Pharma Limited. In his current role, Mr. DeYoung is responsible for driving the businesses’ strategy and profitable growth. He has also led leadership stints as CEO of Piramal Critical Care and President of Piramal Life Sciences. Mr. DeYoung holds a Bachelor of Science in Engineering from Princeton University, with highest honors, before completing his Masters of Business Administration from Stanford University, where he was an Arjay Miller Scholar.

MS Ramadorai

MS Ramadorai is currently Chairman of the Advisory Board of Tata STRIVE, which is the Tata Group’s CSR skills development initiative. He is also Chairman of Tata Technologies Limited and additionally serves as an independent director on the boards of Piramal Enterprises Limited and DSP Investment Managers. He has been in public service and served as chairman of the National Skills Development Agency (NSDA) and the National Skill Development Corporation (NSDC), where he focused on standardizing the training effort, ensuring quality and commonality of results by leveraging technology and creating an inclusive environment to cooperate, collaborate and coexist. Mr Ramadorai became CEO of Tata Consultancy Services (TCS) in 1996, when the company’s revenue was $155 million. He then led the company to become a $6 billion global IT services company by 2009. He was awarded the Padma Bhushan (India’s third highest civilian honor) in 2006.

Mr. Ramadorai holds a BSc in Physics from the University of Delhi (India), a BSc in Electronics and Telecommunications Engineering from the Indian Institute of Science, Bangalore (India) and a Masters in Computer Science from the University of California – UCLA (USA).

Mr Peter Stevenson

Mr. Peter Stevenson is a leader in the pharmaceutical industry with extensive manufacturing and commercial experience. He was a member of Pfizer’s global manufacturing leadership team with responsibilities for global sourcing, global outsourcing and a portfolio of Pfizer internal manufacturing sites in North America, Europe and Asia. Later, he served as General Manager of Pfizer’s contract manufacturing business and Value Chain Manager for the Injectable and Hospital Products value chain. Mr. Stevenson recently retired from Pfizer and is currently Vice Chairman of the United to Fight Neglected Tropical Diseases Board of Directors and Chairman of the Governance Committee. He holds a Bachelor of Arts from Gettysburg College, Pennsylvania.

Ms Nathalie Leitch

Ms. Nathalie Leitch has over two decades of experience in the pharmaceutical industry. She is a subject matter expert in the US generics industry, with experience in creative product strategies and 505(b)(2) formulations; patent challenges, Hatch-Waxman and settlement options; and business development and external partnership activities. Ms. Leitch has extensive knowledge of sales, marketing, R&D and manufacturing functions. She has held senior management positions at Fresenius Kabi, Teva Pharmaceuticals, Allergan plc and Actavis (formerly Watson). Ms. Leitch holds a BSc. in Human Biology and an MBA in Finance from Queen’s University.

Mr Vivek Valsaraj

With over twenty-five years of global finance experience, Mr. Vivek Valsaraj has been associated with the Piramal Group for over 21 years and currently oversees the Finance and Shared Services functions. During his early terms with the Group, Mr. Valsaraj was associated with various roles within Corporate and the former Domestic Formulations business. He holds the position of financial director of the pharmaceutical activity. Over the past few years, he has been closely associated with the pharmaceutical industry and actively participated in several key acquisitions and capital raisings. Prior to joining Piramal, he was associated with companies such as Wockhardt and Bharat Bijlee. He holds a Bachelor of Commerce degree and is an associate member of the Institute of Cost Accountants of India.

Mr Neeraj Bharadwaj

Mr. Neeraj Bharadwaj is the Managing Director of Carlyle India Advisors Private Limited, specializing in growth capital and buyout opportunities across various sectors in India. He currently sits on the board of directors of Piramal Pharma, Hexaware Technologies Limited and Indegene. He has also served on the board of directors of Metropolis, Delhivery Limited and others. He has been involved in many major investments like Apollo and Jamdat hospitals. Mr. Bharadwaj was elected Board Member of Indian School of Business (ISB), Young Global Leader of World Economic Forum (WEF), Board Member of Olympic Gold Quest (OGQ), Member of the Harvard Business School South Asia Advisory Board, member of the Wharton Executive Education Board and co-chairman of the FICCI Committee on Private Equity and Venture Capital. He graduated summa cum laude with a bachelor’s degree in economics, before doing his MBA at Harvard Business School.

Mr. Jairaj Purandare

Mr. Jairaj Purandare has nearly four decades of experience in accounting, tax and business advisory. He is an authority on tax and regulatory affairs. He has advised clients in various sectors such as financial services, infrastructure, energy, telecommunications, media, pharmaceuticals and automotive. Mr. Purandare is the Founding Chairman of JMP Advisors Pvt, a leading advisory, accounting, tax and regulatory services firm in India. He was previously Regional Managing Partner of PwC India and Chairman of Ernst & Young, India. Mr. Purandare is an independent director on the boards of three major companies, a member of the Institute of Chartered Accountants of India and a former member of the National Council of the Confederation of Indian Industry (CII).

Mr Sridhar Gorthi

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Mr. Sridhar Gorthi is an authority on corporate law, mergers and acquisitions and private equity. He is a founding partner and member of the management committee of Trilegal. He has been recognized as one of the leading M&A and equity practitioners in the Asia-Pacific region with his legal expertise in all industries including manufacturing, pharmaceutical, insurance, banking and finance, technology, telecommunications and media. He is one of India’s Top 100 Lawyers and is on the India Business Law Journal 2020 A-list, and among Chambers and Partners Asia-Pacific Leading Lawyers in India for Banking and Finance (2014 -2021). Mr. Gorthi is a graduate of the National Law School, Bangalore and a member of the Bar Council of Maharashtra and Goa.

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