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Business News/ Companies / Cipla board approves retirement of M.K. Hamied
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Cipla board approves retirement of M.K. Hamied

Hamied will continue to be the vice-chairman in a non-executive role

Cipla’s board also approved the appointment of Rajesh Garg as executive director and global chief financial officerPremium
Cipla’s board also approved the appointment of Rajesh Garg as executive director and global chief financial officer

New Delhi: Cipla on Thursday approved the retirement of its executive vice-chairman, M.K. Hamied with effect from 31 March 2014

However Hamied, 73, will continue to be the vice-chairman of the company in a non-executive role effective 1 April. “The board unanimously acknowledges the contribution of M.K. Hamied to the company over the past 30 years, and in deference to his wishes, has accepted his proposal to retire as executive vice-chairman effective 31 March," Cipla said in a filing to BSE.

The company’s board, which met on Thursday, also approved the appointment of Rajesh Garg as executive director and global chief financial officer. Garg has been designated as executive director and global chief financial officer and appointed as an additional director and whole-time director of the company with effect from 1 April 2014. Garg had joined the company last year.

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Published: 13 Mar 2014, 11:33 PM IST
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