Ranbaxy's European, global heads move on

BANGALORE/NEW DELHI: Two senior Ranbaxy Labs executives ��� Peter Burema, president (global pharma business) and an eight-year veteran of the company, and Nick Haggar, head of European operations ��� are learnt to have quit the company. While these are the first senior-level departures since Daiichi Sankyo���s buyout of Ranbaxy was announced last month, sources said their exits are not linked to the acquisition.

According to changes communicated internally on June 30, the regional business heads of North America, Africa, Asia and the Commonwealth of Independent States will report directly to Ranbaxy COO Atul Sobti while Debashis Dasgupta, head finance (global pharma business), will oversee the European operations.

���Given the global business dynamics, Ranbaxy has and will continue to effect changes to periodically align the organisation with changing market dynamics. These are in no way related to the Daiichi Sankyo deal,��� said a company spokesperson.

While these exits may not be due to the sale, industry watchers and head-hunters are keeping a close track. Executive search firms say that after the sale, they were approached by rival pharma firms to study poaching possibilities and Ranbaxy executives for jobs.

Even though the senior management has assured executives that there is no reason for anyone to feel insecure, mega-buyouts are generally followed by a period of uncertainty and instability. ���Professionals are concerned about their role in the changed scheme of things. A new owner would bring a fresh focus and change in priorities. Besides, there would be overall rationalisation. Finally, ownership change could result in change in culture of the company,��� said a Mumbai-based head-hunter.