Appointment of Additional Directors (Non Executive- Independent Directors) and re-appointment of Managing Director and CEO
MEDPLUS · price
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MedPlus Health Services has appointed two new Non-Executive Independent Directors to its Board effective May 20, 2026. Mr. Ajit Pandurang Rangnekar brings over 50 years of diverse business experience including CEO-level roles, corporate strategy, and international exposure spanning shipping, trading, and consulting at PwC. Mr. Mohankrishna Reddy Arvabama adds three decades of experience in finance and strategy, having served as CFO at Cyient and AppLabs, with a background in investment banking at ANZ Grindlays Bank and JM Financial. Separately, the company has approved the re-appointment of Mr. Gangadi Madhukar Reddy as Managing Director for another five-year term starting August 03, 2026. Mr. Reddy is a co-promoter of MedPlus, holding a medical degree and MBA from Wharton, and has led the company's growth since incorporation. All appointments are subject to shareholder approval.
The appointment of two experienced independent directors with strong finance, strategy, and governance backgrounds strengthens the board's oversight capabilities and could be viewed positively by investors. The continuity of the Managing Director ensures stable leadership at a critical growth stage for the pharmacy retail business.