Fortis CEO quits

New Delhi, November 8 

Fortis Healthcare said today its CEO Bhavdeep Singh has resigned but will continue in his current capacity till a successor is found.

Singh has resigned from his position by communication dated November 8, 2018. The Board of Directors of the company has considered and accepted his resignation, Fortis Healthcare said in a regulatory filing.

 “At the request of the Board, Singh has agreed to continue in his current capacity till such time his succession planning is crystallised,” the filing added.

The development comes nearly four months after the crisis-hit healthcare chain was acquired by Malaysia’s IHH Healthcare, which agreed to invest Rs 4,000 crore in it by way of preferential allotment of shares.

Singh has steered the organisation over the past three and a half years. 

In July this year, IHH Healthcare won the race to take control of cash-strapped Fortis. — PTI