Pfizer Ltd, the Indian unit of US drugmaker on Thursday announced that its Board has appointed Meenakshi Nevatia as an additional Director and the managing director for a period of five years with effect from April 3, 2023.

She succeeds S.Sridhar, who announced his early retirement in August 2022.

Sridhar will be stepping down as managing director and member of Board at the close of business hours on March 31, 2023.

Nevatia, a seasoned executive with nearly 30 years of business leadership and consulting experience, was with companies such as Mckinsey and Co, Novartis Pharmaceuticals and more recently with Stryker Corporation.

Nevatia has worked in over 8 countries (developed and emerging) and has held several general management roles across multiple markets such as Thailand, Spain and India.

Nevatia received her Bachelor’s in Science (Economics) from Presidency College, Kolkata, India and completed her Post Graduate Diploma in Management from the Indian Institute of Management Ahmedabad (IIMA).

“This is a pivotal time for Pfizer in India, and I am pleased to welcome Meenakshi (Nevatia) to take over the baton and set new benchmarks for the company and indeed the industry, I also wish to express my gratitude to Sridhar for his long years of service,” said Pradip Shah, chairman of the Board, Pfizer Ltd.“India is critical to the healthcare ecosystem in the region and globally; it is a place where we aspire to bring many more breakthrough therapies and health solutions to patients across the economic segments. We are thrilled to welcome Meenakshi (Nevatia) who comes at an important time when we are poised to scale up our contribution to the India healthcare industry,” said Nick Lagunowich, global president, Emerging Markets for Pfizer.