30 October 2020 - - Parag Agarwal will be joining Indian pharmaceutical company Dr. Reddy's Laboratories Ltd. (BSE: 500124) (NSE: DRREDDY) (NYSE: RDY) as chief financial officer (Designate) on 2 November, the company said.

The board of directors at their meeting held this week, has approved his appointment as a chief financial officer of the company effective December 1, 2020.

In a career spanning over 33 years, Agarwal has held several leadership positions, contributing significantly to the financial performance of his organizations.

With over 10 years of working experience in several countries outside India, he brings global experience in leading business and financial strategy, transforming finance function, as well as in M and A-strategy and execution.

Agarwal has expertise in driving performance management of investments, financial result delivery and driving operating margin improvement through revenue and cost optimization across the value chain.

He joins Dr. Reddy's from Reckitt Benckiser plc, where he was CFO-Health, based in London.

Saumen Chakraborty, president and CFO, will retire effective December 1, 2020.

In his 19+ years career at Dr. Reddy's, Saumen has contributed significantly, leading functions such as HR, Global Generics Operations, Quality, Finance, Legal and Digital and Process Excellence. Saumen will continue to be associated with the company as an Advisor.

He will also help Agarwal to transition effectively.

Reddy's Laboratories is an integrated pharmaceutical company. Its major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology, pain management and dermatology. Dr. Reddy's operates in markets across the globe.

The company's major markets include USA, India, Russia and CIS countries, and Europe.