Cipla board rejig: Samina Hamied to step down from executive role

Balram Bhargava appointed as independent director on board

In a major boardroom reshuffle, Cipla on Thursday said its board has accepted the decision of Samina Hamied, executive vice chairperson of the company, to step down from her current role and continue as a non-executive director of the drug major. Hamied would step down on March 31 this year.

The announcement comes at a time amid reports that Cipla promoters are looking to sell their entire or partial shareholding in the company. Cipla promoters hold 33.5 per cent of the company. With this move, all three members of the board from the promoter or founding family would have non-executive roles.

Cipla board has Y K Hamied, M K Hamied, Samina (executive vice chairperson), Umang Vohra (Managing Director & Global Chief Executive Officer), S Radhakrishnan (non-executive director), and six independent directors - Ashok Sinha, Adil Zainulbhai, PR Ramesh, Punita Lal, Robert Stewart and Mandar Vaidya.

Meanwhile, the board in its meeting on Thursday also approved the appointment of Dr Balram Bhargava, former director general of the Indian Council of Medical Research (ICMR) as an additional and independent director of the company for five years starting from April 1, 2024.

In a regulatory filing, Cipla said that its board has accepted Hamied’s letter dated January 25 where she has expressed her decision to step down, citing “personal and family commitments”. She has said that she will work with the board to ensure a ‘smooth transition’.

Cipla noted: “She has been instrumental in driving the Company’s transformation agenda; playing a key role in successfully incubating Cipla’s consumer health business and spearheading the company’s ambitious foray into the US market with strategic acquisitions.”

The drug major further added in its notification to the exchanges that Samina has built a ‘top-class’ leadership pipeline for the company as continues to spread wings globally.

In her previous role as the Executive Vice-Chairperson of Cipla, Samina focused on board and governance issues, in addition to furthering Cipla’s strategic priorities through key global partnerships, corporate culture, hiring the right talent, and public advocacy. Samina also chaired the Inclusion & Diversity Council at Cipla.

As for the other new appointment on Cipla board, Bhargava is a public health expert with more than 35 years of experience in medical research, healthcare innovation, managing pandemic preparedness etc. He has led India’s Department of Health Research as its Secretary and Director General of the Indian Council of Medical Research. He is also a Professor of Cardiology at the All-India Institute of Medical Sciences, New Delhi and serves as the Executive Director for Stanford India Biodesign Centre, School of International Biodesign (SiB).