New Delhi: Drug firm Novartis India on Wednesday said its Vice Chairman and Managing Director Milan Paleja has decided to step down from company, with effect form 31 May 2019.

Paleja has informed the company’s board of his decision to resign as the vice chairman and managing director effective 31 May 2019 for embracing challenges outside of Novartis, the company said in a regulatory filing.

The company’s board has requested the nomination and remuneration committee to identify and recommend a suitable successor for the role, it added.

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