Strides’ Founder Resumes Charge After Dismal Q4 Earnings

May 23 2018

• By Penelope MacRae

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Strides Shasun founder Arun Kumar has moved back into the driver’s seat to focus on “course correction” after the Indian drug maker racked up an unexpected quarterly loss that triggered a massive share selloff.

Hitting bigger business target — STRIDES' FOUNDER AIMS TO GET COMPANY BACK ON TARGET • Source: Shutterstock

Just a year ago, Strides Shasun Ltd.’s founder Arun Kumar announced he was taking a back-seat strategic role and would let new leadership drive the company to the “next level” as it transformed into a global business-to-consumer operation from a business-to-business firm. He said the move was part of succession planning for Strides, which focuses on making intellectual property-led niche generics.

But after Strides shocked financial markets by swinging to an unexpected INR44m ($645,492) consolidated net loss in the final quarter...

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