Dec 17 (Reuters) - International private equity firm Cinven said on Wednesday co-managing partner Supraj Rajagopalan and chief financial officer Alex Leslie, who is also the chief operating officer,
Cinven Executives Step Down Amid UK Pricing Investigation
Dec 17 (Reuters) - International private equity firm Cinven said on Wednesday co-managing partner Supraj Rajagopalan and chief financial officer Alex Leslie, who is also the chief operating officer, will step down from their roles and leave the firm.
Mike Colato, former CFO who currently serves as senior advisor, will take over as interim COO and CFO, the company said.
Rajagopalan's departure comes as UK regulators consider asking a court to ban him over alleged price-gouging by a drugmaker previously owned by Cinven, the Financial Times reported. He decided to leave due to uncertainty created by the competition watchdog's investigation, the report said citing people familiar with the matter.
In May, the Court of Appeal upheld the CMA's finding of excessive and unfair pricing in the supply of liothyronine tablets in the UK, reinstating a penalty of 51.9 million pounds ($69.49 million) on Cinven.
The company declined to comment on the reason for the management changes.
($1 = 0.7469 pounds)
(Reporting by Aatrayee Chatterjee in Bengaluru; Editing by Krishna Chandra Eluri)
