- Re-designation of the four Executive Directors in line with expanded roles
- Board approves induction of Vinayak Chatterjee as Independent Director
Chennai, July 10, 2014 – Dr. Prathap C Reddy, Chairman, Apollo Hospitals Group announced forward looking leadership reorganization at Apollo aimed at furthering its strategic goals and achieving accelerated growth over the next five years while continuing to remain focused on its core of clinical excellence.
Announcing the details of this change, Dr. Prathap C Reddy, Chairman, Apollo Hospitals Group said, “As the healthcare landscape in the country and the region changes and expands, this strategic realignment, we believe, will enable Apollo to focus on growth opportunities in hospitals, pharmacies, clinics and health insurance while furthering its clinical leadership and service excellence. We aim to deepen our focus in each of these verticals as well as drive synergies between them using technology and an ecosystem focused on wellness, innovation and productivity.”
Apollo Hospitals has had a strong record of leadership centered on robust business performance and commitment to its customers and shareholders. It has demonstrated consistent growth in top line and profitability driven by its focus on clinical excellence and patient care. Our greatest asset is the trust that 40 million patients from 120 countries have reposed in our clinical acumen since our inception. This in turn, increases our responsibility to deliver even greater care to our patients and customers as well as our committed family of over 70,000 members along with a team of over 8000 highly skilled doctors who work relentlessly in our pursuit of excellence.
The reorganization has been designed to maximize the growth as envisaged in the strategy developed in close coordination with all our stakeholders including external consultants.
Similarly, the re-designation of the four Executive Directors is in keeping with the expanded roles and additional responsibilities being assigned to them aligned with the strategy, with a view to achieving the organization’s accelerated growth agenda.
Ms. Preetha Reddy will assume an expanded role and be re-designated as Executive Vice-Chairperson, Apollo Hospitals Enterprise Limited. Focused on Apollo’s core strength, she will work closely with the organization’s 8000 clinicians in reviewing global medical advancements and in introducing contemporary protocols to further enhance clinical outcomes. She will lead the organization’s thrust on continuous quality improvement processes to achieve the highest standards of patient satisfaction. Preetha will persevere to further build and strengthen engagement with doctors across the organization’s network. Considering the immense potential in international business, Preetha will directly lead this portfolio and drive Apollo’s aspiration of becoming the global healthcare destination. She will steer the Enterprise Risk Management portfolio for the company. In addition to her organizational responsibilities, Preetha will work closely with industry bodies and the State and Central Governments to advance policy matters on important healthcare issues.
Ms. Suneeta Reddy has displayed deep domain knowledge and foresight in guiding Apollo’s emergence as a formidable and financially sound hospital enterprise. She will now assume the role of Managing Director, Apollo Hospitals Enterprise Limited. She will lead the corporate strategy, corporate finance, funding and investments and will leverage M&As to achieve the accelerated pace of growth and optimize profitability. Ms. Suneeta will directly steer the hospital vertical and will also handle Brand and Marketing.
Ms. Shobana Kamineni will assume additional responsibilities and be re-designated as Executive Vice-Chairperson, Apollo Hospitals Enterprise Limited. She will continue to spearhead Apollo Pharmacy related initiatives, which is presently the fastest growing business within AHEL. In a short span of time, Apollo Pharmacy has grown to become not just the largest pharmacy chain in the country but also acquired a unique position among the top 5 retail companies in India due to the sheer size of its retail operations and geographic presence. Shobana will oversee the planning, design and execution of new projects and lead the Apollo Global Projects Consultancy Division. Shobana continues to be a Whole Time Director on the Board of Apollo Munich Health Insurance, the company she founded. The business, we believe, has a very strong growth potential.
Ms. Sangita Reddy will take charge as Joint Managing Director, Apollo Hospitals Enterprise Limited and will assume greater responsibilities which will include creating an IT enabled patient centric operation across the Apollo footprint and creating an unmatched continuum of care for patients. Sangita has always been focused on the need to create healthcare of the future and has championed the organization’s endeavours in the domain of telemedicine, e-health and mobile health. She will continue to steer Apollo’s thrust on research, innovation and healthcare initiatives. In growing the group’s retail healthcare foray, Sangita will also spearhead Retail Health, including Health & Lifestyle under Apollo Health and Lifestyle Ltd., the company running Clinics, Cradles and other retail service formats. She will lead the Human Resources and IT functions across all divisions of the Group and will continue to be the Chairperson of Apollo Knowledge, the education vertical of the group.
Dr. Reddy added, “We see enormous growth opportunities on which Apollo can capitalize; this restructuring will further facilitate our objective of leveraging on the company’s leadership and current business assets and platforms to execute against these opportunities. Our primary focus at Apollo is to continue on our path of growth and profitability in existing businesses while expanding to newer geographies, develop new areas in the healthcare business and harness the potential of technology to accelerate growth and innovation thereby continuing to significantly build shareholders value. While there is no change in our capital allocation plans as already communicated earlier, we believe that this structure will enhance our ability to invest and grow each of our key business platforms as we move forward.”
There would be no change in the existing terms of remuneration payable to the working Directors.
The Board today also approved the appointment of Mr. Vinayak Chatterjee as an Additional Director with effect from 2nd July 2014 to hold office as an Independent Director of the Company.
Dr. Reddy said, “We are delighted to have Vinayak on our Board as he brings to the fore immense versatility of experience as a strategic advisor who has guided domestic and international corporates, the Government of India, various Ministries dealing with infrastructure, as well as multilateral and bilateral institutions in the areas of infrastructure planning and implementation. He has been one of the leading proponents of the Public-Private Partnership (PPP) model for developing India’s infrastructure and I firmly believe that PPPPs which includes People participation would be key to ramping up the healthcare infrastructure in our country at an accelerated pace.” BWI
