Cipla Vice Chairman M K Hamied resigns after 47 years of service
Mumbai: Cipla has announced the resignation of Mustafa Khwaja Hamied from the position of Vice Chairman and Non-Executive Director of the Company due to age and health.
"Mr M K Hamied (DIN: 00029084), vide letter dated 3rd September 2024, has resigned from the position of Vice Chairman and Non-Executive Director of the Company w.e.f. close of business hours of 29th October 2024 due to age and health," the BSE filing stated.
In a letter of resignation M K Hamied stated, "These past 47 years at Cipla have been truly a remarkable chapter in my life. Over the decades, I have seen the Company grow and evolve in ways I am immensely proud of. I have had the good fortune of working with several key employees and Board members, and especially with Dr. Y. K. Hamied, who has been the guiding light of Cipla. He has greatly contributed towards making my journey at Cipla, one of the most rewarding experiences of my life. I would like to acknowledge Samina's contribution in transforming the Company into a professionally managed organization and I am pleased to see that Kamil Hamied will be joining the Board as a Non-Executive Director to maintain continuity while representing the promoter family."
"While it is difficult to say goodbye to the organization that has brought me so much fulfillment, I feel proud to have worked with such a talented team at Cipla. I take with me fond memories from my tenure at this organisation, and I am sure Cipla will continue to thrive and achieve greater heights in the years to come, " he added.
Mr. M. K. Hamied is a science graduate from Bombay University and has vast and varied experience in all functions of the Company including production, technical areas, quality management and general administration.
The Board of Directors recommend to the shareholders, appointment of Mr Kamil Hamied as Non-Executive Director of the Company with effect from 1st November 2024.
The Company will also be seeking approval of the shareholders for the appointments of Adil Zainulbhai and Abhijit Joshi as Non-Executive Directors, Sharmila Paranjpe and Maya Hari as an Independent Director.
Read also: Cipla to begin supplies from China facility to US later this year
Established in 1935, Cipla is a global pharmaceutical company focused on agile and sustainable growth, complex generics, and deepening portfolio in its home markets of India, South Africa, North America, and key regulated and emerging markets. It has strengths in the respiratory, anti-retroviral, urology, cardiology, anti-infective, and CNS segments. It has 47 manufacturing sites around the world which produces 50+ dosage forms and 1,500+ products using cutting-edge technology platforms to cater to its 80+ markets.
Read also: Cipla beats Q1 profit view on robust demand
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