Abbott India Limited informed that upon recommendation of the Nomination and Remuneration Committee, the Board of Directors at its Meeting held on May 19, 2023, approved the appointment of Mr. Mahadeo Karnik (DIN: 02606595) as an Additional and Non-Executive Director on the Board of the Company effective July 1, 2023, to hold office upto the conclusion of the forthcoming Seventy-ninth Annual General Meeting of the Company. Mahadeo Karnik is a veteran in finance stream and brings in vast knowledge and expertise in financial analysis, capital markets, corporate taxation, mergers, and acquisitions. He is a keen strategist with considerable experience of participation in company-wide initiatives for developing and implementing improved business models and profitable market-beating growth strategy.

He has been instrumental in driving many automation and digitization projects critical for the companies. Mahadeo is currently the Regional Finance Director of Abbott Healthcare Private Limited where he heads the financial planning and analysis division for Abbott's established pharmaceutical businesses in India. Mahadeo is well-versed with the pharma and diagnostics operating business models.

He has advised on many significant change management projects while ensuring smooth transition and without any business disruption. Prior to joining Abbott, Mahadeo was associated with Perkin Elmer India Private Limited, Roche Diagnostics India Private Limited, International Best foods Limited and United Phosphorus. Mahadeo is a fellow Member of the Institute of Chartered Accountants of India and Institute of Cost and Management Accountants of India.