New CEO steps in at Caraco

DETROIT Generic drug maker Caraco said that its interim CEO and director, Jitendra Doshi, will step down from his position Nov. 1 due to personal and health-related reasons.

While Doshi will assist the company in effecting a smooth transition, G. P. Singh will assume the position of CEO, Caraco said. Singh currently serves as Caraco's COO, and previously was SVP business strategies for three years.

"The company wishes to thank Mr. Doshi for his many contributions during his years of service to the company, including his recent efforts in achieving significant progress with respect to our remediation activities," Caraco said.