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 Namit Joshi, director at Centrient Pharmaceuticals India Pvt Ltd has defeated Dr Chava Satyanarayana, founder and chief executive officer at Laurus Labs Ltd to be elected as the vice-chairman of the Pharmaceuticals Export Promotion Council of India (Pharmexcil) for next two years.
Joshi won with a thumping majority. He succeeds SV Veeramani who has been elevated to the position of chairman of the council for the next two years. The newly elected Committee of Administration (CoA) of the council approved Veeramani’s elevation to the chairman.
As per guidelines issued by the Department of Commerce, the vice-chairman will automatically get elevated to the chairman after completing his/her two-year tenure. Veeramani completed his tenure as vice-chairman on December 31, 2022. He will succeed Sahil Munjal and will continue to hold the office till December 31, 2024.
The guidelines say vice chairman of council has to be elected after CoA is constituted with duly elected members. Vice chairman has to be elected by all ordinary members, irrespective of categories/segments.
Notification for conducting elections to the post of vice chairman was issued on December 16, 2022, after the constitution of the new CoA.
In order to contest for the position of vice chairman, he/she has to be an elected member of the CoA and to have export turnover not less than Rs. 100 crore. Joshi, Dr Satyanarayana and Potluri Ramesh Babu from SMS Pharmaceuticals Ltd filed their nomination papers for election to vice chairman post. Of them, Ramesh Babu withdrew his nomination.
The election took place on December 22, 2022. Akshay SC, joint Director General of Foreign Trade (DGFT), Hyderabad who presided as returning officer for the election declared Joshi elected as vice chairman on December 24, 2022.
Both chairman and vice chairman took charge at the 18th annual general meeting of Pharmexcil in Hyderabad on December 28, 2022.
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