Bengaluru-based Strides group has appointed Aditya Puri, former managing director and chief executive officer of HDFC Bank, as a group adviser.
Puri will also join the board of Strides’ associate company Stelis Biopharma as a director, the firm said. Stelis offers contract development and manufacturing services across all phases of pre-clinical and clinical development and commercial supply of biologics.
This is Puri’s second appointment as an adviser after he retired from HDFC Bank in October last year.
Last November, https://www.vccircle.com/carlyle-appoints-former-hdfc-bank-ceo-aditya-puri-as-senior-adviser/ private equity Carlyle Group — which took over Sequent Scientific Ltd in May 2020 from Strides group promoters — also appointed Puri as a senior adviser.
Puri, the founding chief executive officer of HDFC Bank since its inception in 1994, retired on October 26 last year after turning 70, at a point when the lender had reached a market value of over $90 billion.
“Having nurtured HDFC Bank since inception, his (Puri’s) deep experience will be extremely valuable for the Strides group and Stelis. With Stelis poised for its next leg of growth, this is the right time to expand the board, and ensure robust guidance and governance by the best possible industry minds,” Strides founder Arun Kumar said.
Puri joins Stelis at a point when the company is transitioning from incubation to a consolidation and growth phase, the firm said.
The move also comes at a time when promoters of Strides Pharma Science Limited are reportedly in talks to sell a controlling stake in the business.