Mumbai-based Sun Pharmaceutical Industries has decided to bring the CEO of its Taro unit--Kal Sundaram--back from the U.S. to the head office in India by the end of the year as plans to consolidate manufacturing and other operations ramp up.
Sundaram headed Taro following an acrimonious takeover effort by Sun's MD and founder, Dilip Shanghvi, from the Israel-based founders that ended in 2010.
He helped steer the previously unprofitable company to sales of $950 million in the year ending March of this year, with net profit hitting $450 million, according to the Economic Times.
In earnings for the year ended March 31, released in May, Sun--the world's fifth largest generics maker--said it was confident a massive reorganization to consolidate operations after its purchase of Ranbaxy Laboratories in 2014 were "on track," and in particular lauded progress in the U.S. market.
A replacement for Sundaram at Taro and the exact title of his new role at headquarters were not announced.
- here's the release
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