Preetha to succeed me as Apollo Hospitals chairman: Prathap C Reddy

Apollo Hospitals Founder Chairman Prathap C Reddy on Thursday said his daughter Preetha Reddy is likely to succeed him as the Chairman of the Group.

"As things stand today, Preetha is most likely to succeed me as Chairman," Apollo Hospitals Group Chairman Prathap C Reddy told CNBC-TV 18.

He also said the ownership shares of the Apollo Hospitals is divided equally and there was no change in Preetha Reddy's shareholding.

Preetha Reddy was elevated as the Executive Vice- Chairperson of the group on Wednesday.

Meanwhile, in a statement on Wednesday, Apollo Hospitals had said in her new capacity, Preetha Reddy is to work closely with the organisation's 8,000 clinicians in reviewing global medical advancements and in introducing contemporary protocols to further enhance clinical outcome, Apollo Hospitals had said in a statement.

As part of her expanded profile, she will also directly lead portfolio of international business and drive Apollo's aspiration of becoming the global healthcare destination, it had said.

Preetha will also work with industry bodies and states and the Centre to advance policy matters on important healthcare issues.

Preetha had formally joined Apollo Hospitals as Joint Managing Director in 1989 and five years later, she was elevated as Managing Director of the Group.

On Thursday, in a rejig at its top level, Apollo Hospitals had re-designated Preetha Reddy and Shobana Kamineni as Executive Vice-Chairpersons in a move aimed at reorganisation in line with their expanded roles.

The company had also re-designated Suneeta Reddy and Sangita Reddy, the other daughters of Prathap C Reddy as Managing Director and Joint Managing Director respectively.

Commenting on the development, Prathap C Reddy had said: "As the healthcare landscape in the country and the region changes and expands, this strategic realignment, we believe, will enable Apollo to focus on growth opportunities in hospitals, pharmacies, clinics and health insurance while furthering its clinical leadership and service excellence."