New Delhi: Pharmaceutical major Novartis India recently announced that its Managing Director and Chairman, Milan Paleja has decided to resign from the post with effect from May 31, 2019.
The company informed through a regulatory filing to the BSE that Paleja has decided to abdicate from the post in order to embrace challenges outside of Novartis.
The Board has requested the Nomination & Remuneration Committee to identify and recommend a suitable successor for the role of Managing Director of the Company.
Milan Paleja joined the company in the month of June 2018. Alumni of Harvard Business school Paleja served the company for seven months.
Paleja had been appointed after the previous Novartis Vice-Chairman and MD, Jawed Zia decided to step down mid-March, within days of his taking charge. Zia had been appointed in January to take charge from Ranjit Shahani who was leaving the company on February 28, 2018.
Paleja turned around the business and laid the foundation for future magnification. During his tenure in Indonesia, he initiated innovative access models. He enjoyed the position of Country President and Head Pharmaceuticals in Novartis Indonesia since March 2016. During his early incumbency in Novartis India, he was also appointed as Country President.
Milan is a graduate from Bombay University and holds a Cost Accountants degree from the Institute of Cost Accountants of India.
In his tenure at Novartis, he worked and lead in multiple geographies including Asia, Middle East & Africa at Country, Cluster & Regional Level.