SeQuent Scientific Limited (BSE-512529; NSE: SEQUENT) ("SeQuent") today announced that its Board of Directors has appointed Rajaram Narayanan as Managing Director and Chief Executive Officer ("MD and CEO"), effective 11 April 2022. Mr. Narayanan, who has served in senior leadership roles across the pharmaceutical, consumer goods and services industries, succeeds Manish Gupta who will be stepping down effective 10 April 2022 after serving as MD and CEO of SeQuent for the past eight years. Mr. Gupta will continue to serve as a strategic advisor to the company until July 2022.
Headquartered in Mumbai, SeQuent is India's largest animal healthcare company and a top 20 animal health player globally. The company is currently focused on executing on its "SeQuent 2.0" growth strategy by scaling its presence in existing markets, expanding into new international markets, and accelerating research and development in animal health Active Pharmaceutical Ingredients ("APIs") and formulations, including value-added generics. Mr. Narayanan will oversee the company's next phase of growth and expansion. SeQuent is backed by global investment firm Carlyle.
With over 25 years of experience, Mr. Narayanan has a strong track record of leading revenue and profitability growth across multiple industries including pharmaceuticals. He joins from Sanofi India Limited, where he was the Managing Director and Country Chair for India. At Sanofi, he led the strategic reorientation of its India business operations, resulting in accelerated growth in key therapies and significant transformation of Sanofi's market operations. Before this, he was Chief Marketing Officer at Airtel, India's leading telecommunications company. Mr. Narayanan started his career at Hindustan Unilever Ltd., where he held various leadership roles in India and other Asian markets for over 18 years, building and managing many iconic consumer brands.
Dr. Kamal K Sharma, Non-Executive Chairman of SeQuent said, "We are delighted to welcome Rajaram as MD and CEO of SeQuent as he has a solid track record of successfully transforming businesses in highly complex and regulated industries. His strategic vision as well as operational expertise and rigor will be pivotal for the company's next phase of growth and success, and the Board of Directors looks forward to working with him."
"On behalf of the board and management, I would also like to thank Manish for his valuable contributions and his commitment over the years in building SeQuent's global market leadership and wish him the best in his future endeavours. We also like to express our appreciation for agreeing to take on a strategic advisory role within the company to ensure a smooth transition," he added.
On his appointment as MD & CEO of SeQuent, Rajaram Narayanan said, "I am honoured to join SeQuent, particularly at a time when the global animal healthcare industry is growing at a significant pace due to increased demand for quality livestock and food safety, and a rise in adoption of companion animals. As one of the leading animal healthcare companies globally, SeQuent is uniquely positioned to seize these market opportunities, and I am excited to lead the company through its next phase of development."
Neeraj Bharadwaj, Non-Executive Director of SeQuent and Managing Director, Carlyle India Advisors Private Limited, said, "Rajaram has a proven track record as Country Head at Sanofi and has significant experience driving value for all key stakeholders. We welcome him to SeQuent's management team and will work closely with him to drive value creation for the company through deeper market penetration with existing customers, introduction of new products in APIs, and global expansion in formulations. I would also like to thank Manish for his unwavering commitment to SeQuent and for helping establish the company as a global top 20 animal health player."
Manish Gupta, current (outgoing) MD & CEO of SeQuent said, "It has been a privilege leading SeQuent over the past eight years and having the opportunity to transform the company into one of the world's leading animal healthcare companies. I believe that SeQuent will be wellserved under Rajaram's leadership as it enters the next phase of growth and expansion. I am grateful to the Board of Directors, the leadership team and all the employees at SeQuent for being a part of this journey and making this a rewarding experience for me."
Shares of Sequent Scientific Limited was last trading in BSE at Rs. 191.90 as compared to the previous close of Rs. 189.60. The total number of shares traded during the day was 361933 in over 4249 trades.
The stock hit an intraday high of Rs. 193.50 and intraday low of 187.00. The net turnover during the day was Rs. 68915945.00.