MAM
Tarun Rai to replace Colvyn Harris as JWT South Asia CEO
MUMBAI: Beginning early 2015, Tarun Rai will step into the shoes of Colyvn Harris as JWT South Asia CEO.
Harris, who has had a longstanding tenure with the company, will assume the role of global growth and client development executive director and will report to J Walter Thompson Company CEO Gustavo Martinez.
In the role of CEO, Rai will lead JWT, which includes India, Sri Lanka and Nepal, as well as JWT’s Indian companies, including Contract Advertising, Hungama Digital Services, J. Walter Thompson Mindset, Encompass and Social Wavelength. He will report to Martinez and will work closely with Asia Pacific CFO Nick Romas.
“I am thrilled to welcome Tarun Rai back to J. Walter Thompson. Tarun has the global business acumen and pioneering spirit needed to lead J. Walter Thompson south Asia. He was an important part of our, and now he will be a critical part of our future,” said Martinez.
Rai rejoins the company from Worldwide Media, where he held the role of CEO since 2008. Under Rai’s leadership, Worldwide Media (then a joint venture of The Times of India Group and BBC Worldwide) grew exponentially.
“It’s wonderful to return home to J. Walter Thompson during this pivotal time in the company’s history. Being away for a few years has given me an invaluable ‘outside-in’ perspective of the advertising business. Having a chance to head J. Walter Thompson South Asia and work with Gustavo Martinez as he leads J. Walter Thompson into the next 150 years is a huge honour,” added Rai.
During his tenure at JWT, Rai helped build some of the world’s most reputed brands; his clients included Hindustan Unilever, Diageo, GlaxoSmithKline, Pizza Hut, De Beers, ITC, Tata Steel, Nestlé, Hero, Godrej and Kellogg’s. Rai is an advertising and media professional with more than 25 years’ experience. He holds a business degree and is an alumnus of the London School of Economics.
Harris, who has spent 35 years at JWT, has been Contract Advertising CEO and J. Walter Thompson Colombo managing director. He also holds various industry leadership roles and board positions, including Advertising Agencies Association of India president.
Under his leadership, J. Walter Thompson South Asia has built a formidable reputation with a diverse spectrum of traditional, mainstream, activation, events and digital marketing services capabilities, including the acquisitions of Encompass, Hungama Digital Services, Mindset and Social Wavelength. The agency also won its first Cannes Grand Prix and first Titanium Lion under his leadership, and was the highest awarded Indian agency at Cannes 2014. The company has deepened the scope and scale of the services it offers in the market, from digital to events and activation, through organic growth and acquisitions.
Harris said, “Every day has been an opportunity across my professional career at J. Walter Thompson. Building our capabilities to meet the ambition of our clients’ brands has been my relentless passion and purpose. I have worked with the most amazing and talented team one can ever hope for, and the bluest-of-blue chip clients across every category one can dream of. I am proud to have sustained and grown our client partnerships, and that our clients continue to be leaders in their respective categories for the ideas we have delivered for them. I look forward to being an integral part of the global client development team.”
“I am deeply grateful for Colvyn Harris’ longstanding leadership and commitment to J. Walter Thompson. Colvyn has been a real asset and a great support during my first 11 months in the company. He will continue to help me further the growth of the company in this new role,” added Martinez.
“2015 will be a big year, especially for J. Walter Thompson South Asia under Tarun’s leadership and vision,” concluded Martinez.
Brands
Sun Pharma to acquire Organon in $11.75 billion deal at $14 per share
Acquisition to create $12.4 billion pharma giant with global scale and biosimilars push
MUMBAI: Sun Pharmaceutical Industries Limited has signed a definitive agreement to acquire Organon & Co. in an all-cash deal valued at $11.75 billion, marking one of the largest cross-border pharma acquisitions by an Indian firm.
Under the terms of the agreement, Organon shareholders will receive $14.00 per share in cash, with Sun Pharma set to acquire 100 per cent of the company’s outstanding shares. The transaction, approved by the boards of both companies, is expected to close in early 2027, subject to regulatory approvals and shareholder consent.
The deal significantly expands Sun Pharma’s global footprint and strengthens its position across women’s health, biosimilars, and branded generics. The combined entity is projected to generate revenues of around $12.4 billion, placing it among the top 25 pharmaceutical companies globally.
Organon, which was spun off from Merck in 2021, brings a portfolio of over 70 products spanning women’s health and general medicines, with operations across more than 140 countries. Its established presence in key markets such as the US, Europe, and China complements Sun Pharma’s existing strengths and growth ambitions.
Sun Pharmaceutical Industries Limited executive chairman Dilip Shanghvi said, “This transaction represents a significant opportunity for Sun Pharma to build on its vision of reaching people and touching lives. Organon’s portfolio, capabilities and global reach are highly complementary to our own.”
Sun Pharmaceutical Industries Limited managing director Kirti Ganorkar added, “This transaction is a logical next step in strengthening Sun Pharma’s global business. Together, we will become a partner of choice for acquiring and launching new products.”
From Organon’s side, Organon & Co. executive chair Carrie Cox noted, “This all-cash transaction offers compelling and immediate value to Organon stockholders, while positioning the business for continued growth under Sun Pharma.”
Strategically, the acquisition gives Sun Pharma entry into the global biosimilars space as a top 10 player and strengthens its innovative medicines portfolio, which is expected to contribute around 27 per cent of combined revenues. The deal is also expected to nearly double EBITDA and cash flow, supporting long-term deleveraging and investment capacity.
Sun Pharma plans to fund the acquisition through a mix of internal accruals and committed financing from global banks, while maintaining focus on disciplined integration and operational continuity post-merger.
If completed as planned, the deal signals a clear shift in India’s pharmaceutical ambitions, from scale at home to leadership on the global stage, with Sun Pharma positioning itself as a more diversified and innovation-led healthcare powerhouse.
