Cipla’s Samina Hamied quits as executive vice chairperson due to personal commitments

29 Jan 2024 , 12:25 PM

Samina Hamied, Cipla's Executive Vice Chairperson, has announced her desire to resign from her current post. She will, however, remain with the firm as a non-executive director, with the option to resign via rotation.

The corporation claimed 'personal and family commitments' as the reason for her departure from her present post. According to the regulatory filing submitted on Thursday, the Board has accepted her resignation letter.

A decade ago, they thought Cipla required an engaged and active next-generation promoter to manage and build the firm as we established a world-class leadership team, expanded into new markets, and incubated new companies. Today, as I stand aside from my executive role, I am glad to announce that Cipla is strong, resilient, and ready for the future,' she stated.

On January 25, Cipla revealed that Hamied has opted to stand down from her present role, but will continue to serve as a non-executive director and will be eligible to retire through rotation.

The Cipla VC is a third-generation member of the promoter family. She is the daughter of non-executive vice-chairman MK Hamied and the niece of non-executive chairman YK Hamied. Samina thanked the duo in her letter to the board.

Furthermore, the firm has accepted the nomination of Balram Bhargava as an extra and independent director for five years, ending March 31, 2029.

At around 12.20 PM, Cipla was trading 2.68% lower at Rs 1,333 per piece, against the previous close of Rs 1,369.65 on NSE.

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