Dr Reddy's board gives nod to induct third generation leadership into the company:

Dr Reddy's board gives nod to induct third generation leadership into the company:

Dr Reddy's Laboratories board has given green signal to induct Akhil Ravi, the son-in-law of GV Prasad, Co-Chairman, and CEO - of Dr Reddy's into the company management.

Drug maker Dr Reddy’s Laboratories board has given green signal to induct Akhil Ravi, son-in-law of GV Prasad, co-Chairman and CEO of the company into the management.

The decision was taken at the company's board meeting in October and was notified on Wednesday. Akhil Ravi represents the third generation of family leadership of Dr.Reddy's, founded by late K Anji Reddy.

The company is now jointly run by Anji Reddy's son-in-law GV Prasad and son Satish Reddy, 50. The promoters hold 27.66 percent stake in the company. The drug maker ended with sales of little over Rs 14,000 crore in FY17.

Akhil Ravi, who will be joining the company in a mid-senior management role as Director of Business Development and Portfolio, has an impressive academic credentials with a BTech degree in Chemical Engineering from IIT Bombay and an MBA from Indian School of Business (ISB), Hyderabad.\

According to his Linkedin profile, Ravi currently works as an associate with McKinsey & Company, Chennai. He has previously worked with ITC and has also co-founded a start-up called IndiaKhelo, which is into fitness for school children.

Akhil Ravi married GV Prasad's elder daughter Sanjana Reddy in 2013.

Prasad's younger daughter Mallika Reddy works as Design Researcher at Studio 5B of Dr. Reddy's Laboratories.

"Unlike western countries, family run enterprises dominate Indian corporate landscape, grooming successors assures certain stability and business continuity,” said Rajesh Tambe, an independent management consultant.

In pharma sector, finding next level of growth could be challenging task for leadership, believes Tambe.

Indian pharmaceutical industry grew at impressive rates in the last two decades on back of generic drugs. However, in last two to three years, companies are increasingly facing pressure on pricing and regulatory expectations.