Pfizer Limited announced on Thursday that its Board of Directors has appointed Meenakshi Nevatia as an Additional Director and Managing Director for a five-year term beginning April 3, 2023.

She takes over for S.Sridhar, who announced his retirement in August 2022.

“Meenakshi is a seasoned leader with nearly 30 years of business leadership and consulting experience with top companies such as Mckinsey and Co, Novartis Pharmaceuticals and more recently with Stryker Corporation. Meenakshi has worked in over 8 countries (developed and emerging) and has held several General Management roles across multiple markets such as Thailand, Spain (Iberia) and India,” the company said in a statement.

Meenakshi earned her Bachelor of Science (Economics) degree from Presidency College in Kolkata, India, and her Post Graduate Diploma in Management from the prestigious Indian Institute of Management Ahmedabad (IIMA).

“This is a pivotal time for Pfizer in India, and I am pleased to welcome Meenakshi to take over the baton and set new benchmarks for the company and indeed the industry, I also wish to express my gratitude to Sridhar for his long years of service. His patient-centric vision contributed significantly to the growth of the company, increasing our reach to many more patients in the country and helping them benefit from the company’s drugs and therapies over the years,” Pradip Shah, Chairman of the Board, Pfizer Limited said in a statement.

The Board of Directors of Pfizer Limited, at their meeting on February 9th, 2023, considered the recommendation of the Nomination & Remuneration Committee and approved the appointment of Meenakshi as Managing Director, effective April 3rd, 2023, according to the company.

S. Sridhar, the current India Country President, will retire as Managing Director and Member of the Board at the end of business hours on March 31, 2023. The appointment of Meenakshi will be subject to shareholder and central government approval via postal ballot, according to the statement.