Solara appoints Bharath R Sesha as new CEO

Solara Active Pharma Sciences on Monday said it has appointed Bharath R Sesha as its Chief Executive Officer (CEO) with immediate effect. "The Board of Directors, on the recommendation of Nomination and Remuneration Committee, have appointed Bharath R Sesha as Chief Executive Officer of the Company with effect from December 09, 2019," the company said in a regulatory filing.

As part of an agreed succession plan, Sesha will succeed Jitesh Devendra as Solara's new CEO. Sesha has over two decades of experience and joined Solara from Nalco Water, India where he was the Managing Director responsible for the growth strategy.

"These are exciting times for the industry, and I hope we will continue to create new opportunities for growth in our business to drive significant value for all the stakeholders," Sesha said. Bengaluru-based Solara Active Pharma Sciences has a manufacturing base comprising five globally compliant active pharmaceutical ingredient (API) facilities, with approvals including the USFDA, European good manufacturing practice (EU GMP) and Pharmaceutical and Medical Devices Agency (PMDA) in Japan.

The shares of Solara Active Pharma Sciences were trading at Rs 445.90, up 0.30 per cent on BSE in morning trade.