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Spanish drugmaker Grifols appoints new finance chief as shake-up continues

Reuters
·1-min read
Shares of Spanish drugmaker Grifols plunge after hedge fund queries debt ratios

(Reuters) - Spanish drugmaker Grifols has appointed Rahul Srinivasan as chief financial officer, the company said on Thursday, as the company reshuffles management after a short-seller fund questioned its accounting.

The accounting accusations in a report by Gotham City Research last January sparked a slump in the Grifols share price. Grifols has denied the accusations and also filed a lawsuit in the United States against the fund and its founder.

Srinivasan will start on Sept. 16, succeeding Alfredo Arroyo, who is retiring after 17 years at the company, Grifols said in Thursday's filing to the Spanish stock market regulator.

In February Grifols appointed Nacho Abia as chief executive in place of Thomas Glanzmann, who remained as chairman.

(Reporting by Matteo Allievi; Editing by Inti Landauro and David Goodman)