Vijay Mallya resigned as chairman of Bayer CropScience Ltd, the Indian subsidiary of the German pharma major Bayer AG, the company said on Tuesday.
“We regretfully accept the voluntary resignation of Vijay Mallya as our director and chairman with effect from June 30, 2016,” Bayer CropScience said in a statement.
A new chairman will be appointed at its next board meeting, it added.
“We are grateful to Mallya for his professionalism, dedication and loyalty,” the statement added.
In fiscal 2015, the global firm employed about 1,17,000 people and had sales of euro 46 billion.