Mumbai: Through a recent release, pharma major Lupin announced the exit of its Chief Financial Officer, Ramesh Swaminathan. The company said in a statement to the exchange informed that the CFO has quit the company to pursue opportunities outside the pharmaceutical industry.
“We wish to inform that Ramesh Swaminathan, Chief Financial Officer of the Company has decided to pursue other responsibilities outside the pharmaceutical industry and will be leaving the organization in the month of December 2018,” Lupin said in a statement.
Swaminathan had joined the company in August 2007 and had served the company for twelve long years. He was the executive director of the company. He received the best CFO award for the financial year 2016-2017. He has been credited to the major force behind some of the major financial deals and strategic acquisition for the company in the last decade.
Moneycontrol reports that he was instrumental in helping the company to grow from sales of Rs 2773 crore in FY08 to Rs 15560 crore in FY18.
“We thank him for his contributions to Lupin over the last 12 years and wish him success in his future
endeavours,” said Lupin in the statement to the stock exchange.
Headquartered in Mumbai Lupin is among one of the top five generic drug makers in India.
The company is yet to announce a replacement for Swaminathan.