Ranbaxy head steps down

GURGAON, India The CEO of Ranbaxy Labs will step down next week, the Indian generic drug maker said Thursday.

Ranbaxy said Atul Sobti would leave the positions of CEO and managing director on Aug. 19, while president of the company’s global pharmaceutical business Arun Sawhney would serve as managing director beginning Aug. 20.

“We are extremely grateful for the significant contribution Mr. Sobti has made to Ranbaxy ever since he joined the company,” chairman Tsutomu Une said. “Under his leadership as CEO and managing director, Ranbaxy has realized various opportunities to repeat the strong operating performance while continuing to manage key challenges.”

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