Abbott India names Ambati Venu as MD

Ambati Venu is appointed as an additional director on the board and managing director of the company for a term of 5 years effective September 29, 2016.

New Delhi:

Drug firm Abbott India on September 29 appointed Ambati Venu its new Managing Director.

"The board at its meeting held on September 29 approved the appointment of Ambati Venu as an additional director on the board and managing director of the company for a term of 5 years effective September 29, 2016, subject to approval from the central government and shareholders of the company," Abbott India said in a BSE filing.

In February this year, Abbott India announced resignation of its managing director Rehan A Khan. Khan's resignation was effective close of business hours on April 30, 2016.

Shares of Abbott India were trading 0.41 per cent down at Rs 4,701 on BSE.