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| Exchange Received Time 05/12/2018 14:05:51 Exchange Disseminated Time 05/12/2018 14:05:56 Time Taken 00:00:05 | Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that, Mr Milan Paleja, Vice Chairman & Managing Director of the Company has informed the Board of Directors today of his decision to step down as the Vice Chairman & Managing Director, effective close of business hours on May 31, 2019 for embracing challenges outside of Novartis.
The Board requested the Nomination & Remuneration Committee to identify and recommend a suitable successor for the role of Managing Director of the Company.
Kindly take note of the above in your records.
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