Succession Planning at Ranbaxy - Family Drama, Corporate Style |
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"The question, however, uppermost in most people's mind is: (that) does the decision reflect a tussle between the promoter and professional management in which the promoter eventually had his way." - An analyst, commenting on the Ranbaxy succession planning issue.1 "The succession plan was driven by Mr Brar (D S Brar, outgoing Managing Director and CEO) himself and he has been close to the family for so long." - Malvinder Singh, President Pharmaceuticals and the elder son of Ranbaxy founder, the late Parvinder Singh.2 "It is a rather uneventful development in that it is part of a succession plan and the transition will be smooth." - D S Brar, Outgoing Managing Director and CEO, Ranbaxy Laboratories Ltd.3 An Un-Expected Departure?
A few analysts said that Brar had no choice but to leave the company as Malvinder Singh and Shivinder Singh (sons of Ranbaxy's founder, the late Parvinder Singh, and owners of more than 32% of stake in the company) wanted to establish their control over the management of the company.
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1] 'Ranbaxy Undecided on Succession Plan,'
www.tribuneindia.com, December 29, 2003. |
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