Drug major Cipla on Thursday said Samina Hamied has decided to step down from the position of Executive Vice Chairperson of the company, while continuing as a non-executive director liable to retire by rotation. In a letter to the board, Hamied stated “I would like to inform you of my decision to step down as Executive Vice Chairperson of Cipla due to personal and family commitments.”
“I will continue to serve as a Non-Executive Director of the company. The effective date for this transition will be March 31, 2024 and I will work with the Board to ensure a smooth transition,” she added.
Samina thanked Y K Hamied and MK Hamied for their support.
“A decade ago they believed that Cipla needed an engaged and active promoter from the next generation to steer and strengthen the company as we built a world class leadership team, forayed into new geographies and incubated new businesses. Today as I step down from my executive position, I am proud to say that Cipla is strong and resilient and ready for the future,” she stated.
Cipla shares on Thursday ended 3.38 per cent down at Rs 1,369.80 apiece on the BSE.
