Drug major Pfizer India Managing Director Aijaz Tobaccowalla resigns

NEW DELHI: Drug major Pfizer Ltd today informed that its Managing Director Aijaz Tobaccowalla has resigned from the post.

The day-to-day operations of the company will be managed by its Executive Director, Business Unit and Distribution Head S Sridhar till Tobaccowalla's successor is appointed.

Tobaccowalla's resignation would be effective from October 16.

"The day-to-day operations of the company shall be managed by S Sridhar, presently the Executive Director, Business Unit and Distribution Head, until such time that Tobaccowalla's successor is appointed by the Board of Directors," Pfizer informed the BSE.

On June 5, the company had informed that Tobaccowalla intends to step down from his position.

Shares of Pfizer Ltd were trading at Rs 2,400 in afternoon trade, down 1.03 per cent.