Apollo Hospitals elevates Reddy sisters in top-level rejig

Healthcare major Apollo Hospitals Enterprises (AHEL) on Wednesday announced a major rejig of its top management by re-designating Preetha Reddy and Shobana Kamineni – elder daughters of Apollo promoter Prathap Reddy - as executive vice-chairpersons with immediate effect.

The company that runs a chain of hospitals, clinics and pharmacies, across the country, said the re-designation of the Reddy sisters is in line with their expanded roles in the organisation.

The company also re-designated the other two Reddy siblings, Suneeta Reddy and Sangita Reddy, as managing director and joint managing director, respectively.

The board of directors of the company at its meeting held today took these decisions, Apollo Hospitals Enterprise said in a statement.

"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," Apollo Hospitals Group chairman Prathap C Reddy said.

The redesignations of Preetha Reddy, Suneeta Reddy and Sangita Reddy are for the remaining period of their tenure, ie, up to 2 February 2016.

The term of Shobana Kamineni is up to 31 January 2015. However, the board also approved her re-appointment as executive vice chairperson for a further period of five years with effect from 1 February 2015 on the existing remuneration terms, Apollo Hospitals said.

Preetha Reddy, who has been elevated from managing director to executive vice chairperson will hold the post for the remaining period of her tenure up to 2 February 2016. Preetha Reddy will lead the international business of the company,

"It is a move aimed at strategic alignment and is in keeping with the expanded roles and additional responsibilities being assigned to us. It is to focus on the growth of the company," Shobana Kamineni said.

The company's board has also appointed Vinayak Chatterjee as an independent director of the company with effect from today.

Apollo Hospitals Enterprise currently has over 8,600 beds across 50 hospitals, 1,632 pharmacies, 92 primary care and diagnostic clinics and 100 telemedicine units across 10 countries.

AHEL will continue to look at geographies beyond India awhile within India, it aims to grow both organic and inorganically, said Shobana Kamineni.