Rahul Guha, the CEO of Thyrocare, will succeed Shah as the Pharmstraightforward CEO. API Holdings had acquired a 66.1% stake in Thyrocare for Rs 4,546 crore in June 2021. Thyrocare is listed in the public markets, while Pharmstraightforward is yet to float an initial public offering.
” The board of directors of API Holdings Limited… has approved the additional responsibility of Rahul Guha, managing director and chief executive officer of Thyrocare Technologies Limited, by appointing him as the managing director and chief executive officer of API,” Thyrocare informed the exalters. “Further, as part of the leadership restructuring, the board of directors of API has also approved redesignation of Siddharth Shah, the current managing director and chief executive officer of API, as director and vice chairman of API.”
The leadership alters will come into effect from August 27.
Pharmstraightforward founders exit
Other founders Dharmil Sheth, Dhaval Shah, and Hardik Dedhia left Pharmstraightforward earlier this year to launch their new venture, All Home, in the architectural and interior design space. They stepped away from operational roles at Pharmstraightforward in January. A company statement at the time declared that these founders would remain part of the group as board members or observers, while reducing their involvement in day-to-day executive responsibilities.
The formal relocate out from PharmEasy’s daily operations for the three founders earlier this year also coincided with the epharmacy platform reviving its plans to go public two years after it withdrew its first attempt at an initial public offering.
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