Torrent Pharma ED Ruchir Modi quits company after 13 years

AHMEDABAD | MUMBAI: Ruchir Modi, part of the management leadership team at Ahmedabad-based Torrent Pharma, has quit the organisation, snapping a 13-year-old association. Last week, an internal circular was circulated among staffers, which didn’t specify the reason for Modi’s exit, two people familiar with the development said. Torrent Pharma confirmed that Modi, who held the position of executive director, has decided to purse alternative business/professional opportunities.

A spokesperson said in an official response that since 2003, Modi was associated with various projects, and as executive director, was responsible for domestic business since 2014. Modi is expected to start his own pharmaceutical venture, a person in the know of things disclosed.

Ruchir Modi, nephew of promoters Sudhir Mehta and Samir Mehta, played a prominent role in Torrent Pharma's growth. However, his stint at the company was marked by internal issues due to his tough working style, one person who had previously worked at Torrent said.

Modi could not be reached for comments as his phone was switched off. During 2009-10, few top executives left the company and he was shifted to Torrent Power for a brief period, but was moved back to Torrent Pharma.

Through his tenure, Modi — who has been the face and voice of Torrent Pharma management — led multiple functions at the company, from heading the India and RoW markets to handling M&As and strategic decisions like product selection, and overseeing product filing responsibilities. Modi also had a short stint with Torrent Cables.