Matrix appoints Rajiv Malik as CEO

Matrix Laboratories has announced changes in the executive management structure.

According to a release issued by Matrix Lab to the BSE, N Prasad, chairman and CEO, will assume the position of executive chairman to focus on strategic issues.

The company has appointed Rajiv Malik as the new CEO. Malik, who will take charge as the CEO on July 18, was head of global development & registration at Sandoz, the world's largest gentries company and the generics arm of Novartis, the release added.

Dr. C Satyanarayana, COO, and G Prabhu Kishore, executive vice president (human resources & management services), have decided to relinquish their executive positions to join the newly formed corporate advisory board (CAB).

C Ramakrishna, who was earlier executive vice president (corporate finance & corporate services), and Sundara Rajan, who retired on June 30, as executive vice president (strategic business planning), also joined the CAB, the release added.

C Satyanarayana and C Ramakrishna will continue to be on the board of directors.

"The latest initiatives are in line with the commitment to the shareholders to institutionalise the company. Now, with these changes, we have a strong CAB, management team and operating team in place. The appointment of Rajiv Malik as the CEO will add a lot of management depth to the company, and will enable us to pursue the new growth strategies globally," Prasad said.