Ranbaxy, Daiichi Sankyo restructure board of directors

GURGAON, India Ranbaxy Labs and Daiichi Sankyo have reconstituted Ranbaxy’s board of directors, the two companies announced Friday.

Ranbaxy approved the reconstitution at a meeting at its headquarters in Gurgaon, India. The new composition of the board reflects Ranbaxy’s new ownership structure, following its November takeover by Daiichi Sankyo, which now owns 63.92 percent of India’s largest drug maker.

Ranbaxy CEO Malvinder Mohan Singh will become Ranbaxy’s chairman of the board, while Daiichi Sankyo president and chief executive officer Takashi Shoda will also join the board. Ranbaxy will remain a publicly listed company and continue operating as an independent and autonomous entity.