Pharmeasy founder Siddharth Shah steps down as CEO

Pharmeasy founder Siddharth Shah has stepped down as CEO. He will now take on the role of vice-chairman at API Holdings, Pharmeasy's parent company.

Rahul Guha, currently CEO of Thyrocare, will become the new CEO of Pharmeasy. API Holdings bought 66.1% of Thyrocare for ₹4,546 crore in June 2021. Thyrocare is a publicly listed company, while Pharmeasy is yet to go public.

The leadership changes will take effect from August 27.

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"The board of directors of API Holdings Limited... has approved the additional responsibility of Rahul Guha, managing director and chief executive officer of Thyrocare Technologies Limited, by appointing him as the managing director and chief executive officer of API," Thyrocare told the exchanges. "Further, as part of the leadership restructuring, the board of directors of API has also approved redesignation of Siddharth Shah, the current managing director and chief executive officer of API, as director and vice chairman of API."

Earlier this year, co-founders Dharmil Sheth, Dhaval Shah, and Hardik Dedhia left their operational roles at Pharmeasy to start a new venture called All Home, focused on architecture and interior design. They stepped away from daily responsibilities in January but continue to be associated with the company as board members or observers.

Pharmeasy has raised around $1.1 billion from investors like MEMG, Prosus, and Temasek. In April 2024, it raised $216 million, but at a sharply reduced valuation of $710 million — a 90% drop.

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