Dr Reddy's CFO Parag Agarwal to Retire, M V Narasimham Takes Over

Dr. Reddy's Laboratories announced a leadership change on May 7, 2024. Parag Agarwal, the current Chief Financial Officer (CFO), will be stepping down from his position on July 31, 2024. M V Narasimham, the company's Deputy CFO,will succeed Agarwal effective August 1, 2024.

The announcement comes as Agarwal pursues new endeavours outside of Dr. Reddy's. A company statement did not elaborate on the specific nature of Agarwal's future plans.

Narasimham brings a wealth of experience to the CFO role. A Chartered Accountant with over 30 years of experience, he has held various positions of increasing responsibility within Dr. Reddy's finance department since joining the company in 2000. Currently, he leads the Corporate Finance division, encompassing areas like direct and indirect taxation, consolidation, and corporate analytics. Additionally, Narasimham oversees Global Business Finance for both domestic and international operations.

This leadership change ensures a smooth transition for Dr. Reddy's financial operations. Narasimham's extensive experience positions him well to navigate the company's financial future. The official handover will occur on August 1,2024, following Agarwal's departure.