New Delhi [India], May 7 (ANI/ThePRTree): Chief Executive Officer at Fermenta Biotech Limited (FBL), Prashant Nagre, gets appointed as the new Managing Director of the company. The announcement was done by Krishna Datla, Promoter and Managing Director at FBL.
While Prashant's term comes in effect from May 9, 2021, Datla will continue as a Board Member and the Executive Vice Chairman.
The last few years have witnessed implementation of significant strategic decisions being spearheaded by the management and Board of FBL. Acquisition of equity shares from its earlier PE investor followed by the merger with its parent company for enhancing operational synergies were a few changes.
The current announcement is another such step taken by the promoters towards inculcating greater professionalism of the company to fuel its growth ambitions. It is strategic decision to fuel next phase of growth for the company.
Having joined FBL in 2010 as the Chief Operating Officer, Prashant Nagre, in two years, was elevated to the position of Chief Executive Officer. Since then, he has led corporate strategi, business operations and demand-driven innovation for FBL's three business verticals viz., Vitamin D and other APIs, Integrated Biotechnology and Environmental Solutions.
Under the leadership of Datla, during Prashant's tenure, FBL has expanded from a solely domestic-focused business to a global vitamin player, with more than 70 per cent of revenues now arising from exports. Prashant will also be responsible for steering the company's efforts to foray into the nutrition segment by developing a future-ready organization with a value-added portfolio.
Talking about the man and his commitment towards the firm, Krishna Datla says, "Prashant has led various transformational milestones for accelerating the organization's progress, and we have immense faith in his leadership. As the company is evolving into a global entity, we think, Prashant is aptly suited to achieve our strategic vision. His track record at FBL coupled with his vast professional experience will be instrumental in driving the next phase of growth. Welcoming him on Board, we look forward to taking our success to newer heights."
Commenting on his new role, Prashant Nagre said, "It has been a privilege to serve the organization for more than a decade. It is with great humility that I accept my new role, and I am honoured to lead the team at such an exciting time for the company. Moving ahead, I am confident that FBL will enter a new chapter in its growth story and will continue to strive towards creating a better future for all our stakeholders."
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