Fortis Healthcare CEO Bhavdeep Singh steps down

NEW DELHI: Fortis Healthcare mentioned on Thursday its CEO Bhavdeep Singh has resigned but will proceed in his present capacity till a successor is located. Singh has resigned from his place by way of communication dated November 8, 2018. The board of directors of the corporate has thought to be and approved his resignation, Fortis Healthcare mentioned in a regulatory submitting.


“At the request of the board, Singh has agreed to proceed in his present capacity till such time his succession planning is crystallised,” the submitting added. The construction comes just about four months after the crisis-hit healthcare chain used to be got by way of Malaysia’s IHH Healthcare, which agreed to invest Rs four,000 crore in it by the use of preferential allotment of shares.


Singh has steered the organisation over the last three and a half years. The company mentioned its board has expressed “deep appreciation” for Singh’s leadership “particularly, throughout the previous two years of high turbulence, his tenacity and perseverance had been instrumental in protecting the organisation steady thru an excessively difficult period within the company’s historical past”.


In July this yr, IHH Healthcare gained the race to take keep watch over of cash-strapped Fortis beating rivals TPG-Manipal consortium in ultimate spherical of bidding.
Fortis Healthcare CEO Bhavdeep Singh steps down Fortis Healthcare CEO Bhavdeep Singh steps down Reviewed by kailash soni on November 10, 2018 Rating: 5
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