Drug major Cipla Ltd said its Vice Chairman and Non-Executive Director MK Hamied has resigned from the company due to "age and health".
"Vide letter dated 3rd September 2024, effective close of business hours of 29th October 2024, Mr M K Hamied has resigned from the position of Vice Chairman and Non-Executive Director of the Company due to age and health," said Cipla in stock exchange filing.
Alos, the Cipla Board has approved the appointment of Adil Zainulbhai and Abhijit Joshi as Additional Directors (Non- Executive) of the Company with effect from September 3, 2024 and Kamil Hamied as Non-Executive Director with effect from November 1, 2024.
"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 (MK Hamied's daughter) 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," said MK Hamied in his resignation letter.
On September 3, Cipla's shares on NSE closed 0.2 percent higher at Rs 1,650 apiece.
"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.
I would like to express my deepest gratitude to all my fellow Board members for their unwavering support and guidance. 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," added Hamied.
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