Magazine
The pharmaceutical industry, particularly the Active Pharmaceutical Ingredient (API) sector, is witnessing a significant alteration in its leadership landscape, based on the increasing number of investments. According to Walk Water Talent Advisor, there is a high movement in senior management of the API industry, which is approximately 40 per cent of the manufacturing leadership personnel who have changed their roles in the last three years. Such a trend is combined with a huge uptick in rewards and compensation, which is a consequence of the fact that professionals are paid a significant portion of their salaries, as they either move to private equity companies or assume senior positions in other organizations.
As a result, the positions including site heads, cluster heads, and chief operating officers (COO) are sought after due to the fast-paced environment in the healthcare industry that requires more experienced leaders. Nevertheless, a particular limit exists, with the local API industry being resistant to hiring external talent promoting current leaders to higher positions, and prolonging their terms.
Prakash HS, Vice President of Pharma and Life Sciences at Walk Water Talent Advisors, stresses the shift of power towards the COOs and C-suite executives with the median age running above 55. The ageing of this demographic is a clear sign that the industry is becoming increasingly professionalized, where the talent at a site head level moves up to leading a cluster and eventually becoming a COO, implying that the leadership structure of the pharmaceutical industry is changing.
