Succession Planning

Powerful Essays
CASE STUDY ON SUCCESSION PLANNING AT RANBAXY

Formation of the Company:
Ranbaxy Laboratories Limited was started by Ranbir Singh and Gurbax Singh in 1937 as a distributor for a Japanese company Shionogi. The name Ranbaxy is a combination of the names of its first owners Ranbir and Gurbax. Bhai Mohan Singh bought the company in 1952 from his cousins Ranbir and Gurbax. After Bhai Mohan Singh's son Parvinder Singh joined the company in 1967, the company saw an increase in scale.
Summary of the Case Study:
Ranbaxy ranks No. 1with a 2007 turnover of Rs 4,198.96 crore (Rs 41.989 billion) by sales, Ranbaxy is the largest pharmaceutical company in India. The case discusses about the CEO succession planning controversy at Ranbaxy Laboratories Limited, one of India's largest pharmaceutical company. The founder of Ranbaxy Mr. Bhai Mohan Singh established this company in 1961. By 1967 his son Dr. Parvinder Singh (Dr.Singh) joined the company and worked hard to take the company to great heights, by 1982 he became the Managing Director of his company. Since the retirement of Mr. Bhai Mohan Singh in 1993, his son (Dr. Singh) took full control of the company’s business affairs.
Dr. Singh adopted highly professional work standards and was well known for his commitment to corporate governance and corporate ethics. Although it was a family owned business, Ranbaxy was managed and run by professional managers. He wanted to internationalise Ranbaxy in order to transform it into a multinational pharma giant, to accomplish this task, he carefully chose a team of professionals. He retired in the year 1998 after he was been detected to be suffering from cancer. At his day of retirement, he chose Devinder Singh Brar (D.S. Brar) as the MD and CEO of the company. Dr. Singh wanted his sons (Malvinder Singh and Shivinder Singh) to earn their positions through hard work and merit to enter their company.
Devinder Singh Brar (Brar) had joined Ranbaxy in 1977 as a business development

You May Also Find These Documents Helpful

  • Powerful Essays

    succession planning

    • 4833 Words
    • 20 Pages

    Succession Planning & Management in Tough Economic Times Succession Planning & Management Table of contents 1. What is Succession Planning and Management?........................................... 2 2. Best Practice approach to SPM. ...................................................................... 3 . 3. How is SPM related to the Employee Life Cycle?........................................... 4 4. Measures of SPM Success. .........................................................…

    • 4833 Words
    • 20 Pages
    Powerful Essays
  • Best Essays

    Succession Planning

    • 2534 Words
    • 10 Pages

    Title: Succession Planning Executive Summary: While most of the companies follow the evolution theory in talent development only more than one third of the multiowner firms follow the talent development and have a written succession plan. (A 2009 tune up your firm’s succession planning. Dominic Cingoranelli. Journal of accounting march 2009). Although the talent development school is the best choice for many reasons, nevertheless it’s rarely used in a systematic way in many…

    • 2534 Words
    • 10 Pages
    Best Essays
  • Good Essays

    Succession Planning

    • 710 Words
    • 3 Pages

    Put your succession planning in place now | | |Gordon and Tony’s feud shows that problems can arise over succession – planning could be key to future success of your business,| |says Teresa Graham, OBE | |Posted: 2005-01-17 | |[pic]…

    • 710 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Succession Planning

    • 663 Words
    • 3 Pages

    to any organization’s success is the right people in place to lead tomorrow immersed in the organization’s values so they can sustain the culture. Succession planning has also been identified as top factor for employee retention. The Succession Planning Process With KMx, you will be able to build the foundation for a customized succession planning process that will work specifically for the organization. KMx Performance Management enables you to put the groundwork into place today for developing…

    • 663 Words
    • 3 Pages
    Good Essays
  • Better Essays

    Succession Planning

    • 4674 Words
    • 19 Pages

    Succession Planning of Indian Family Owned Businesses with special reference to Coimbatore Succession Planning The significance of succession planning to the success and continuity of business firms (Miller, 1993; Ocasio, 1999; Pitcher, Cherim, & Kisfalvi, 2000) more so for family businesses (Lee, Lim & Lim, 2003) is well known and therefore has been a thrust area of research. (Ramachandran, 2005) Succession planning is all about finding the next leadership for the organization.…

    • 4674 Words
    • 19 Pages
    Better Essays
  • Powerful Essays

    Succession Planning

    • 3037 Words
    • 13 Pages

    Best Practice Succession Planning & Talent Management Creating and Sustaining Competitive Advantage In Human Capital Capability Challenges and Solutions Christopher Dawson, Ph.D Dawson Consulting Group 830 Covington Road, Suite A Belmont, California 94002 650.773.2925 cdawson@DawsonConsult.com www.DawsonConsult.com SUCCESSION PLANNING & TALENT MANAGEMENT A Dawson Consulting Group White Paper ©Chris Dawson 2007 All Rights Reserved The Time is NOW Succession planning is necessary…

    • 3037 Words
    • 13 Pages
    Powerful Essays
  • Satisfactory Essays

    succession planning

    • 4703 Words
    • 19 Pages

    in this project “SUCCESSION PLANNING”. This helped us a lot SUCCESSION PLANNING”. in applying the theoretical concepts of classroom to practical problem solving. We have gained several valuable insights into not only Human Resources function, but also the general functioning of a business. We would like to express our heartfelt gratitude to VP HR Malikarjun Rao for his valuable guidance. Sr. Manager C A K Thampi for giving us this innovative concept of Succession Planning for our project…

    • 4703 Words
    • 19 Pages
    Satisfactory Essays
  • Powerful Essays

    Succession Planning

    • 7227 Words
    • 29 Pages

    Succession Planning In An International Context Submitted in Partial Fulfillment of the Degree of PhD in International Business and Program Management by Kelly Eugene Higgins, PgMP UD17818BIN25641 14 September, 2013 Kelly Eugene Higgins I.D.: UD17818BIN25641 Atlantic International University, Honolulu, HI 14 September 2013 Table of Contents 1. Reflection ................................................................................................................ 1 2. The Tall…

    • 7227 Words
    • 29 Pages
    Powerful Essays
  • Powerful Essays

    Succession planning

    • 1495 Words
    • 6 Pages

    SUCCESSION PLANNING Definition. Succession planning is a process for identifying and developing internal people with the potential to fill key business leadership positions in the company. Is a process for identifying and developing potential future leaders or senior managers, as well as individuals to fill other business-critical positions, either in the short- or the long-term. It can also be defined as a process whereby an organization ensures that employees are recruited and developed to fill…

    • 1495 Words
    • 6 Pages
    Powerful Essays
  • Good Essays

    Succession Planning

    • 762 Words
    • 4 Pages

    From Global Organization development Summit (GODS) held last month, it was worth noting that one of the challenges facing the organizations today is succession planning. (Succession planning can be broadly defined as identifying future potential leaders to fill key positions) It is imperative that in all organizations discounting the size of the organization or the area of operation, it is important to have people with the right skills to fill key and top leadership jobs. Traditionally most of…

    • 762 Words
    • 4 Pages
    Good Essays