<p>Sun Pharma Advanced Research Company (SPARC) on Tuesday said Dilip Shanghvi has resigned as managing director of the company.</p>.<p>Shanghvi expressed his desire to step down and tendered his resignation as the MD with immediate effect, which was accepted by the board, SPARC said in a regulatory filing.</p>.<p>Shanghvi will, however, continue to be associated with the company's board in his capacity as a non-executive director and chairman, it added.</p>.<p>It further stated that the board, on the recommendation of Nomination and Remuneration Committee, has appointed Anil Raghavan as chief executive officer (CEO) of the company with immediate effect for a term of five years till May 24, 2026.</p>.<p>Prior to joining SPARC, Raghavan served as the managing director of the India and Sri Lanka business of Quintiles, a global pharmaceutical services company. </p>.<p>SPARC was formed in 2007 through a demerger from drug major Sun Pharma. </p>
<p>Sun Pharma Advanced Research Company (SPARC) on Tuesday said Dilip Shanghvi has resigned as managing director of the company.</p>.<p>Shanghvi expressed his desire to step down and tendered his resignation as the MD with immediate effect, which was accepted by the board, SPARC said in a regulatory filing.</p>.<p>Shanghvi will, however, continue to be associated with the company's board in his capacity as a non-executive director and chairman, it added.</p>.<p>It further stated that the board, on the recommendation of Nomination and Remuneration Committee, has appointed Anil Raghavan as chief executive officer (CEO) of the company with immediate effect for a term of five years till May 24, 2026.</p>.<p>Prior to joining SPARC, Raghavan served as the managing director of the India and Sri Lanka business of Quintiles, a global pharmaceutical services company. </p>.<p>SPARC was formed in 2007 through a demerger from drug major Sun Pharma. </p>