Solara Active Pharma Sciences announces leadership changes

Solara Active Pharma Sciences announced a significant restructuring of its leadership team, effective February 21, 2025. Poorvank Purohit has resigned from his position as Managing Director and Chief Executive Officer, citing personal reasons. Simultaneously, Arun Kumar Baskaran has resigned as Chief Financial Officer, also citing personal reasons. Stepping into the role of Managing Director and CEO is Sandeep Rao, appointed as an Additional Director, subject to shareholder approval. Sarat Kumar has been appointed as the new Chief Financial Officer and designated as Key Managerial Personnel (KMP). Additionally, Vishal Mathur has been appointed as Chief Business Officer (CBO) in the capacity of Senior Management Personnel. The company has also proposed closure of Solara Active Pharma Sciences LTDA, Brazil, a wholly owned subsidiary, due to a lack of operations. Finally, the Nomination and Remuneration Committee approved the grant of 3,50,000 ESOP options to eligible employees under the Solara Employee Stock Option Plan 2024. With the resignations and new appointments, the company’s Risk Management, Corporate Social Responsibility, and Stakeholder Relationship Committees have been re-constituted.