The Hindu Business Line : Matrix Lab carries out changes in management structure

MATRIX Laboratories Ltd has announced major changes in the Executive Management structure here on Monday. These changes were aimed at pursuing the new growth strategies.

Mr N. Prasad, hitherto the Chairman & Chief Executive Officer, would assume the Executive Chairman position to focus more on strategic issues.

The newly formed Corporate Advisory Board (CAB) and the Chief Executive Officer (CEO) would assist Mr Prasad.

According to a company press release here, Mr Prasad has been the driving force behind the growth and the successful implementation of M&A strategy at Matrix, and has a proven track record in selection, integration and turning around the merged entities.

To focus on the operational issues of the company, Mr Rajiv Malik, a new entrant to the Matrix family, has been appointed as the CEO.

Mr Malik, who would take charge on July 18, was associated with Sandoz as its Head of Global Development & Registration, based at Vienna, Austria.

He was responsible for overseeing the network of eight development centres of Sandoz worldwide with around 1,000 scientists and an annual budget of $250 million.

As part of the latest changes, Dr C. Satyanarayana, hitherto the Chief Operating Officer, and Mr G. Prabhu Kishore, hitherto the Executive Vice-President (Human Resources & Management services), have decided to relinquish their executive positions to join the newly formed CAB.

Mr C. Ramakrishna, who was earlier the Executive Vice-President (Corporate Finance & Corporate Services), and Mr Sundara Rajan, who retired on June 30 as the Executive Vice-President (Strategic Business Planning), also joined the CAB.

Dr C. Satyanarayana and Mr C. Ramakrishna would continue to be on the board of directors the company.

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