- In a heartfelt decision, Samina Hamied, the Executive Vice Chairperson of Cipla, has opted to resign from her role.
- Her decision is driven by personal and family commitments.
- Dr. Balram Bhargava, the Director General of the Indian Council of Medical Research (ICMR) will assume the role of Non-Executive Independent Director.
Who is Samina and why did she resign?
Samina is the niece of YK Hamied, the non-executive chairman of Cipla, and the daughter of MK Hamied, the non-executive vice-chairman.
She has been widely recognized as one of the most influential women in the business and healthcare sectors in India and Asia.
She has chosen to resign from her role because of personal and family obligations and informed the board of her decision through a letter on January 25, 2024.
However, she will still be involved with the company as a Non-Executive Director.
Resignation to become effective
Samina’s resignation will come into effect from 31st March 2024.
When did she join Cipla?
In 2011, Samina joined Cipla, a multinational pharmaceutical company based in Mumbai as Executive Director & Global Head of Strategy, M&A, and New Ventures.
In 2016, she was promoted to Executive Vice Chairperson.
She played a crucial role in spearheading the company’s transformation agenda, driving its expansion into new markets and industries.
She has also previously worked with Goldman Sachs in the Investment Management Division for almost 4 years.
About Cipla
Cipla Limited was founded by Khwaja Abdul Hamied in 1935 as the Chemical, Industrial & Pharmaceutical Laboratories. It later adopted the name ‘Cipla’ in July 1984.
With 47 manufacturing locations worldwide, Cipla distributes its products in 86 countries, making it the third-largest pharmaceutical drug producer in India.
As of February 2024, Cipla has a market cap of $13.54 Billion or Rs 1,12,436 Cr.
In January 2024, Cipla reported a 32% rise in net profit at Rs 1,056 crore for the December quarter, on the back of robust sales across geographies.
Leadership team
Umang Vohra – Managing Director & Global Chief Executive Officer
Geena Malhotra – Global Chief Technology Officer
Ashish Adukia – Global Chief Financial Officer
Dr Raju Mistry – Global Chief People Officer
Pradeep Bhadauria – Global Chief Scientific Officer
Swapn Malpani – Global Head Supply Chain
What next?
Dr. Balram Bhargava will take over as a Non-Executive Independent Director, from 1st April 2024, which will last for five years.
Cipla’s Board approved the appointment during their meeting on Thursday.
Bhargava is currently the Director General of the Indian Council of Medical Research (ICMR).
