Pfizer India's independent director and chairman of the board R A Shah has resigned with immediate effect, citing new-age policy of the parent company.
"This is to inform you that R A Shah, Chairman of the Board, via his letter dated February 1, 2022 has resigned as an Independent Director with immediate effect," Pfizer India said in a filing.
Shah has further confirmed that there is no other material reason for his resignation other than the new age policy adopted by Pfizer Ltd.
Consequent to his resignation, Shah also ceases to be the chairman of the board of directors, chairman of the audit committee and member of the nomination and remuneration committee of the board.
On Wednesday, Pfizer India shares rose 2.05% to close at ₹4,621.10 on NSE.
