Cipla Vice Chairman MK Hamied steps down

"It is with a heavy heart that I write to formally announce my resignation from the position of Vice Chairman and Non-Executive Director of the Company with effect from close of business hours on 29th October 2024, due to age and health," Hamied wrote in a letter addressed to the company's board members. 

"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 would like to express my deepest gratitude to all my fellow Board members for their unwavering support and guidance," he wrote.

"I wish Cipla continued success in the future, and I hope to see its purpose of 'Caring for Life' at the heart of everything that it does," the letter mentioned. 

Cipla said its board approved the appointment of Kamil Hamied as Non-Executive Director, with effect November 1, 2024.

Who is MK Hamied?

Hamied is a science graduate from Bombay University.

He has vast and varied experience in all functions of Cipla including production, technical areas, quality management, and general administration.

Upon attaining retirement as the Executive Vice-Chairman on March 31, 2014, Hamied continued to be Vice-Chairman in Non-Executive role with effect from April 1, 2014.

Cipla Shares 

Earlier on Tuesday, Cipla shares ended 0.4 per cent higher at Rs 1,652.4 apiece on BSE.