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Fortis Healthcare CFO Gagandeep Singh Bedi resigns

Fortis Healthcare CFO Gagandeep Singh Bedi resigns

New Delhi: Fortis Healthcare on Thursday said its Chief Financial Officer Gagandeep Singh Bedi has resigned citing personal reasons.

The Board of Directors of the company at its meeting held yesterday have considered Bedi’s resignation from the services of the company, and accepted the same, with effect from September 30, 2018, Fortis Healthcare said in a filing to BSE.

The resignation is due to personal reasons, it added.

Gagandeep Singh Bedi is the first senior company executive to leave the organization post-stake-sale to Malaysia-based IHH Healthcare.

Medical dialogues had earlier reported that Fortis board had unanimously accepted a binding offer from Malaysia’s IHH Healthcare Berhad to invest Rs 4,000 crore in it by way of preferential allotment at Rs 170 per share.

Read also: IHH Healthcare: Meet the Highest Bidder of Fortis Healthcare

All in all, IHH Healthcare is expected to shell out a total of Rs 7,300 crore to acquire a 57.1% stake, provided its open offer for 26 percent stake is fully subscribed.

The senior management of Fortis had come under criticism for lapses in respect of loans granted to entities controlled by former promoters. However, the management had denied the charges.

Gagandeep Singh Bedi had joined Hospital chain Fortis in 2011 from Philips Healthcare, Netherlands, and had set up the supply chain and shared services function.  In 2014, Bedi had appointed Bedi as the firm CFO  after its earlier CFO Sandeep Puri had resigned from the post.

Source: With Agency Inputs
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