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Taro Pharmaceutical Industries Ltd Announces Senior Leadership Changes

Thursday, 18 Jul 2013 09:20am EDT 

Taro Pharmaceutical Industries Ltd announced that Mr. Dilip Shanghvi has been appointed to Taro`s Board of Directors as its Chairman. Taro also announced that, effective August 1, 2013, Mr. James Kedrowski will be retiring as its Interim Chief Executive Officer, and that Mr. Kalyanasundaram Subramanian, known in industry circles as Kal Sundaram, has been appointed to serve as Chief Executive Officer(CEO) of the Company. Mr. Kedrowski will continue to serve as a member of Taro`s Board of Directors. Mr. Sundaram, while remaining on Taro`s board, relinquished the position of Chairman in light of Israeli legal restrictions on simultaneously holding the chairman and CEO position of an Israeli public company. Taro`s board addressed this matter by appointing Mr. Dilip Shanghvi as a director to fill the vacancy left by Mr. Aalok Shanghvi`s resignation from the board and to serve the board as its Chairman, a position Mr. Dilip Shanghvi had previously held from September 2010 until his resignation from the board in April 2012. 

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