Piramal Healthcare today said its shareholders have approved the appointment of Nandini Piramal, daughter of Chairman Ajay Piramal, as the Executive Director on the board of the pharma company.
The shareholders have approved the appointment of Piramal as Executive Director thereby increasing the strength of the board to 10, from the existing nine, Piramal Healthcare said in a filing to the Bombay Stock Exchange.
Prior to this appointment, Piramal was managing the company's overseas operations, which includes the UK and Canada.
Piramal holds a 1.84 per cent stake in Piramal Healthcare while her parents Ajay and Swati Piramal, both promoters of the firm, holds 0.18 and 0.21 per cent, respectively.
Further, the shareholders have also approved the increasing of borrowing powers of the company to Rs 1,500 crore and the re-appointment of Price Waterhouse as the auditors of the company.
Besides, Keki Dadiseth and S Ramadorai have been reappointed as directors of the company.