Cinven Co-Managing Partner Supraj Rajagopalan and CFO and COO Alex Leslie will step down from their roles and leave the firm, according to a report by Reuters. The private equity firm said former CFO Mike Colato, who currently serves as a senior adviser, will assume the role of interim CFO and COO.
Rajagopalan’s departure comes as UK regulators consider seeking a court order to disqualify him in connection with an investigation into alleged price gouging by a pharmaceutical company previously owned by Cinven, according to a Financial Times report. Rajagopalan reportedly decided to step aside due to uncertainty created by the ongoing probe.
In May, the UK Court of Appeal upheld the CMA’s finding of excessive and unfair pricing relating to the supply of liothyronine tablets, reinstating a £51.9m penalty against Cinven. Rajagopalan and Leslie have denied the allegations and have said they intend to challenge any potential disqualification proceedings.
