Taro Pharma (TARO) Names New Interim CEO

December 1, 2016 5:06 PM EST

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Taro Pharmaceutical Industries Ltd. (NYSE: TARO) announced that its Board of Directors has appointed Mr. Abhay Gandhi to the position of Interim Chief Executive Officer, effective January 1, 2017. As previously announced, the Interim CEO will serve in this role during the period from Mr. Kal Sundaram’s departure at the end of this year until the arrival in April 2017 of Mr. Uday Baldota, Taro’s recently appointed CEO.

Mr. Gandhi currently serves as the CEO of the Sun Pharmaceutical Industries Ltd. (“Sun Pharma”) North America operations, a position he succeeded from Mr. Sundaram. Taro’s Board of Directors has also nominated Mr. Gandhi to its Board.

Prior to joining Sun Pharma’s North America business, Mr. Gandhi held several leadership positions within Sun Pharma over the last 20 years, including most recently, as CEO of its India business where he was responsible for India operations as well as certain international markets, including sales & marketing, integration efforts, business development, portfolio management and other allied functions. His leadership enabled the India business to grow more than three-fold in revenue within a short span of three years.

Taro’s Chairman, Mr. Dilip Shanghvi noted: “The Taro Board is confident that Mr. Gandhi will serve Taro and its stakeholders well during this interim period.”

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