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
Famous quotes containing the words corporate and/or control:
“If when a businessman speaks of minority employment, or air pollution, or poverty, he speaks in the language of a certified public accountant analyzing a corporate balance sheet, who is to know that he understands the human problems behind the statistical ones? If the businessman would stop talking like a computer printout or a page from the corporate annual report, other people would stop thinking he had a cash register for a heart. It is as simple as that—but that isn’t simple.”
—Louis B. Lundborg (1906–1981)
“In Vietnam, some of us lost control of our lives. I want my life back. I almost feel like I’ve been missing in action for twenty-two years.”
—Wanda Sparks, U.S. nurse. As quoted in the New York Times Magazine, p. 72 (November 7, 1993)