Cipla Vice Chairman MK Hamied steps down, Board welcomes new directors

In a significant change to its leadership, Cipla Ltd has announced the resignation of its Vice Chairman and Non-Executive Director, MK Hamied, effective from October 29, 2024. Citing age and health reasons, Hamied's departure marks the conclusion of a nearly five-decade long tenure at the pharmaceutical giant.

The company disclosed in a formal communication that Hamied's decision was conveyed through a letter dated September 3, 2024, as per reports.

Reflecting on his 47 years at Cipla, Hamied expressed his deep sense of pride in the company's growth and evolution. "These past 47 years at Cipla have been truly a remarkable chapter in my life," he stated in his resignation letter, also highlighting the pivotal contributions of Dr. Y K Hamied and his daughter Samina in steering the company towards professional management.

As part of this transitional phase, the Cipla Board has moved swiftly to fill the impending vacancy by appointing Adil Zainulbhai and Abhijit Joshi as Additional Directors (Non-Executive) effective immediately.

Furthermore, Kamil Hamied is set to join the board as a Non-Executive Director starting November 1, 2024, ensuring continuity and representation from the promoter family.