Cipla Ltd announced that MK Hamied, its Vice Chairman and Non-Executive Director, is stepping down after 47 years with the company due to age and health issues. His resignation will take effect after business hours on October 29, 2024.
In a letter dated September 3, 2024, Hamied shared his decision to resign, expressing pride in the company’s growth during his long tenure. He thanked key employees, Board members, and his daughter, Samina, for their roles in transforming Cipla into a professionally managed company.
Cipla’s Board has also appointed Adil Zainulbhai and Abhijit Joshi as Additional Directors (Non-Executive), effective September 3, 2024. Additionally, Kamil Hamied, a member of the promoter family, will join the Board as a Non-Executive Director on November 1, 2024.
On the day of the announcement, Cipla’s shares on the NSE rose slightly by 0.2%, closing at ₹1,650 per share.
In his farewell message, Hamied expressed mixed emotions about leaving but remains confident in Cipla’s future. He believes the company will continue to thrive and achieve greater success, reaffirming his belief in Cipla’s mission of “Caring for Life.”
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