<ul><li><keyword id="207035" type="PERSON" weightage="20" keywordseo="Dilip-Shanghvi">Dilip Shanghvi</keyword> is the founder of $3.6billion, Sun Pharma, India's most valuable pharma outfit. </li><li>He once dethroned Mukesh Ambani as India's richest man but is now witnessing a massive decline in his wealth. </li><li>Sanghvi, "unschooled in science and management" turned Sun Pharma a $3.6 billion multinational company</li></ul>In 2015, the chairman of Sun Pharma Dilip Shanghvi had briefly dethroned Mukesh Ambani to become the country’s richest man. His response to that was, “I am not comfortable.” Though he doesn’t hold that position anymore, his net worth can buy him 138 million barrels of gold, according to Bloomberg billionaire index. Shanghvi is one of the few billionaires who stay away from limelight and remain undocumented, as he doesn’t “like it”. 
 
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Dilip Shanghvi, the common man turned Indian billionaire who is taking home a salary of ₹1

<ul><li><keyword id="1072853" type="General" weightage="20" keywordseo="israel-makov" source="Orion">Israel Makov</keyword> will be retiring from his position after <keyword id="44642" type="General" weightage="20" keywordseo="sun-pharma" source="Orion">Sun Pharma</keyword>’s AGM on August 29.</li><li>Israel Makov has been leading the Sun Pharma board for the last decade.</li><li>Sun Pharma has not named a replacement for Makov yet.</li></ul>Israel Makov, the chairperson and board member of Sun Pharmaceutical Industries Ltd, will be retiring from his position on completion of his current term on August 29, 2022, the company said in a statement on Wednesday. The company has not yet announced Makov’s replacement. Makov has been leading the Sun Pharma board for the last decade. He was appointed board member and chairperson of the company <a href="https://sunpharma.com/wp-content/uploads/2020/12/120529-Appointment-of-Chairman-on-Sun-Board.pdf">in 2012</a>. The pharmaceutical company has expanded its foothold beyond India and US to over 100+ markets under his stewardship, making it the fourth-largest specialty generic pharmaceutical company in the world. “I was fortunate to be part of the thrilling journey of Sun Pharma becoming a major global player in the pharmaceutical industry. I especially enjoyed working with the talented executives of Sun Pharma who participated in the company’s transformation and successfully led the process of change,” Makov said. The company’s turnover rose from $1.7 billion to $5 billion in the last decade, Sun Pharma said. Makov — a former president and CEO of Teva Pharmaceutical Industries — also guided the acquisition of Ranbaxy in 2014, strengthening the company’s position in the pharmaceutical industry. Makov has also been the former chairperson of Given Imaging that developed and provided capsule endoscopy, and Netafim that developed smart irrigation systems. He also founded Israel’s first biotech company Interpharm, which went public in the US. Dilip Shanghvi, the managing director of Sun Pharma, said, “I have always admired his business acumen and strategic orientation. Mr Makov has played a significant role in Sun Pharma’s global expansion in the last decade. He guided the company into its next phase of growth with focus on innovation and adoption of newer technologies.” The shares of Sun Pharma dipped marginally after the announcement to trade at ₹909.7 at 10:06 am on August 3. Overall, the company’s shares have gained 7.27% since the start of this year. SEE ALSO <a href="https://www.businessinsider.in/finance/news/the-worst-of-the-rupees-decline-might-be-over-as-market-expects-us-fed-to-dial-down-pace-of-hikes/articleshow/93290895.cms">The worst of the rupee's decline might be over as market expects US Fed to dial down pace of hikes</a> <a href="https://www.businessinsider.in/stock-market/news/markets-on-a-wait-and-watch-mode-as-they-await-cues-from-rbi/articleshow/93290015.cms">Markets on a wait and watch mode as they await cues from RBI</a> <a href="https://www.businessinsider.in/business/auto/news/as-new-cars-get-pricier-pre-owned-bmws-audis-and-porsches-get-more-attractive/articleshow/93275786.cms">As new cars get pricier, pre-owned BMWs, Audis and Porsches get more attractive</a>

Sun Pharma Chairperson Israel Makov to retire on August 29

<img class="gwt-Image" src="/photo/48555456.cms" />Three Indian companies, <a href="http://www.businessinsider.in/searchresult.cms?query=hindustan+lever">Hindustan Unilever</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=TCS">Tata Consultancy Services</a> (TCS) and <a href="http://www.businessinsider.in/searchresult.cms?query=sun+pharma">Sun Pharma Industries</a> made it to the list of world's 100 most innovative companies by Forbes. 
 
While <a href="http://www.businessinsider.in/searchresult.cms?query=tesla+motors">Tesla Motors</a> topped the <a href="http://www.businessinsider.in/searchresult.cms?query=forbes+">Forbes</a> List of ‘The World’s Most Innovative Companies’, HUL was ranked 41, TCS at 64 and Sun Pharma stood at 71th position. 
 Elon Musk’s California-Based <keyword id="156689" type="COMPANY" weightage="100" keywordseo="Tesla-Motors">Tesla Motors</keyword> has a market capitalization of USD 25.5 billion. He inherited "Steve Jobs' mantle as the cult favourite CEO. And his electric car company has grabbed Apple's creative crown”. 
 
Forbes said companies are ranked by their innovation premium, which is the difference between their market capitalisation and a net present value of cash flows from existing businesses. 
 
Companies need seven years of public financial data and USD 10 billion in market cap to be included in the list. 
 On FMCG company, <keyword id="6365619" type="CITY" weightage="100" keywordseo="Hindustan-UniLever">Hindustan Unilever</keyword>, Forbes said the company had over 35 brands spanning 20 distinct categories. 
 
Meanwhile, this is the eighth time that India's largest IT company TCS, with a market cap of USD 80.3 billion, has appeared on the list. The company took a major step toward bolstering its digital services when last month it announced a training program in digital technologies for a third of its workforce. 
 
Forbes stated that in the past year, TCS crossed the milestone of employing 100,000 women, meaning that one out of three employees is now a woman. 
 
For Sun Pharma, which had a market cap USD 39 billion and India's largest drugs company, this is the fourth time it has been included in the list. 
 
Billionaire Dilip Shanghvi - who owns more than half the company - pipped Mukesh Ambani earlier this year to become the richest man in India. 
 
The list also includes software company salesforce.com on the second spot, followed by Amazon (8), Hermes International (22), Netflix (27), MasterCard (36), Starbucks (45), Adobe (74), Coco Cola (81) and Cognizant (96).

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Dilip Shanghvi, the common man turned Indian billionaire who is taking home a salary of ₹1

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Sun Pharma Chairperson Israel Makov to retire on August 29

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HUL, TCS, Sun Pharma in Forbes list of world's most innovative firms

BI India Bureau