Samina Hamied steps down as Cipla executive vice chairperson. Details here
Cipla. She will remain with the company as a non-executive director liable to retire by rotation. The official cited “personal and family commitments" for the transition set to go into effect from March 31.
“…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. The Board has accepted the above letter in its meeting held today," the company said in a regulatory filing on Thursday. The Cipla VC is a third generation representative 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 also thanked the duo in her letter to the board. "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 wrote. The developments came even as Cipla reported a 32.25% rise in its profit to ₹1,068.41 crore in the third quarter. The company had posted a consolidated profit of ₹807.83 crore in the year-ago period.
Its consolidated revenue from operations in the quarter under review was ₹6,603.81 crore — up 13.66%. The company had posted a consolidated profit of ₹807.83 crore in the year-ago period. Total income of Cipla in the third quarter stood at ₹6.788.44 crore, up 14.58%.
Read more on livemint.com
