The board of Sun Pharma Advanced Research Company Limited (SPARC) has said that Dilip Shanghvi has voluntarily chosen to step down as the Managing Director of the Company, as a measure of good corporate governance. 

This step was taken to proactively comply with the requirements of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates separation of the role of Chairman & Managing Director/Manager of the company with effect from 1st April 2022. 

Dilip Shanghvi was Chairman and Managing Director of Sun Pharma Advanced Research Company Ltd. and has extensive industrial experience in the pharmaceutical industry. A first generation entrepreneur, Shanghvi has won numerous awards and recognitions, including Forbes’s Entrepreneur of the Year Award (2014), Economic Times’ Business Leader of the Year (2014), CNN IBN’s Indian of the Year (Business) (2011), Business India's Businessman of the Year (2011) and Ernst and Young's World Entrepreneur of the Year (2011). He has also been awarded the Economic Times' Entrepreneur of the Year (2008), Business Standard’s CEO of the Year (2008) and CNBC TV 18's First Generation Entrepreneur of the Year (2007). 

Shanghvi is also the founder of Sun Pharmaceutical Industries Limited and Chairman of the Shantilal Shanghvi Foundation. He holds a B.Com degree from the University of Calcutta.