Samina Hamied steps down as the company’s Executive Vice Chairperson, but will remain a non-executive director.

Samina Hamied

Samina Hamied has stepped down as Cipla’s Executive Vice Chairperson. She will remain with the company as a non-executive director, with the option to retire through rotation. The official cited “personal and family commitments” for the transfer, which is slated to take effect on March 31. 

“Samina Hamied has decided to step down as Executive Vice Chairperson of the Company. She will continue as a non-executive director liable to retire by rotation.” “The Board accepted the above letter at its meeting today,” the business said in a regulatory filing on Thursday.

The Cipla VC is a third-generation member of the promoter family. She is the niece of YK Hamied, the non-executive chairman, and the daughter of MK Hamied, the non-executive vice chairman. Samina also expressed gratitude to the duo in her letter to the board.

“A decade ago, they believed Cipla needed an engaged and active next-generation promoter to manage and build the firm as we built a world-class leadership team, expanded into new markets, and incubated new businesses. Today, as I stand aside from my executive position, I am glad to announce that Cipla is strong, resilient, and ready for the future,” she stated.

Cipla recorded a 32.25% profit increase to ₹1,068.41 crore in the third quarter. In the previous year, the company’s consolidated profit was ₹807.83 crore. In the quarter under review, the company’s consolidated revenue from operations increased by 13.66% to ₹6,603.81 crore.

The company made a consolidated profit of ₹807.83 crore in the previous year. In the third quarter, Cipla’s total income increased by 14.58% to ₹6.788.44 crore. During the quarter, the company generated ₹6,365.06 crore from pharmaceuticals and ₹280.51 crore from new ventures.

Ms. Hamied is the third generation of the founding family and has received numerous accolades, including being named one of Business Today’s ‘Most Powerful Women in Business’ in 2017 and 2022, Forbes’ ‘Top 25 Emergent Women Business Leaders in Asia’ in 2018, and Fortune India’s ‘Most Powerful Women in Business’ from 2018 to 2022. She won ‘Businesswoman of the Year’ at The Economic Times Awards for Corporate Excellence in 2021 and ‘EY Entrepreneur of the Year 2022’ in the life sciences and healthcare category. She was also named one of the “Most Influential Women in Healthcare 2023” by BW Healthcare World.