Corporate Control
Zydus Cadila's major shareholder remains the Patel family. Pankaj Patel (born 1951), son of the founder, is CEO. In 2004 Pankaj Patel was included by Forbes magazine in its annual List of India's richest people. Forbes estimated Patel's net worth at US$510m, making him India's 26th richest person. However in 2005 Patel dropped off the Forbes list due to a fall in the stock price of Cadila Healthcare. Moreover, there is a team of nine senior level executives, known as the Executive Committee, who are heads of different operations look after the overall management processes. None of the members except Pankaj Patel are on the Board of Directors. The Indian pharmaceutical industry has become the third largest producer in the world and is poised to grow into an industry of $ 20 billion in 2015 from the current turnover of $ 12 billion.
Read more about this topic: Cadila Healthcare
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