Reports of likely promoter stake sale making people anxious: Cipla MD Vohra
Cipla's managing director and global CEO Umang Vohra said on Friday that reports over the possible sale of promoters' stake in the company and the uncertainty surrounding it is making people within the company anxious.
«I am definitely anxious. As a human being, I am anxious because so many things depend on this decision,» Vohra said in a post quarterly earnings call with reporters.
Empower Your Corporate Journey with Strategic Skill Courses
Offering CollegeCourseWebsiteIndian School of BusinessISB Chief Digital OfficerVisitIIM KozhikodeIIMK Chief Product Officer ProgrammeVisitIndian School of BusinessISB Chief Technology OfficerVisit«We're all human beings, we get distracted with what happens, because of this and that distraction creates difficulties for us in the way we engage with each other, and the way we engage with the organization. That, I believe, is the biggest impact of this uncertainty,» Vohra added.
Vohra said the promoters' and the company are two different entities.
«We have been saying this is speculative from the beginning; we maintain that if there is ever anything that our business requires a public disclosure, it will be disclosed at that point of time,» Vohra said.
«We haven't heard anything either way in terms of the transaction as yet,» he added.
Vohra said the philosophy of Cipla has always been investing for the future and he doesn't think events would make a difference to it.
