Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Novartis India has informed that, Milan Paleja, Vice Chairman & Managing Director of the company has informed the Board of Directors today of his decision to step down as the Vice Chairman & Managing Director, effective close of business hours on May 31, 2019 for embracing challenges outside of the company. The Board requested the Nomination & Remuneration Committee to identify and recommend a suitable successor for the role of Managing Director of the company.
The above information is a part of company’s filings submitted to BSE.