Dr Reddy’s Laboratories has announced that Parag Agarwal will be joining the Company as Chief Financial Officer (Designate) on November 2, 2020. The Board of Directors at their meeting held today, has approved his appointment as a Chief Financial Officer of the Company effective December 1, 2020.

In a career spanning over 33 years, Agarwal has held several leadership positions, contributing significantly to the financial performance of his organisations. With over 10 years of working experience in several countries outside India, he brings deep global experience in leading business & financial strategy, transforming finance function, as well as in M&A-strategy & execution. He has expertise in driving performance management of investments, financial result delivery and driving operating margin improvement through revenue & cost optimisation across the value chain.

Agarwal is a qualified Chartered Accountant and Company Secretary. He joins Dr Reddy’s from Reckitt Benckiser PLC, where he was CFO-Health, based in London. Prior to his nine years stint at Reckitt, Parag was associated with organisations such as Unilever, GSK Consumer Healthcare & Genpact.

Saumen Chakraborty, President & CFO, will retire effective December 1, 2020. In his 19+ years career at Dr Reddy’s, Chakraborty has contributed significantly, leading functions such as HR, Global Generics Operations, Quality, Finance, Legal and Digital & Process Excellence. Chakraborty will continue to be associated with the Company as an Advisor. He will also help Parag to transition effectively.

Commenting on his appointment, Agarwal said, “Dr Reddy’s is driven by its purpose, high governance standards, a robust strategy and strong leadership. I am truly excited to join the organisation in its transformation journey to create even more value for its customers and patients.”