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Three years after Cipla doyen Dr YK Hamied announced his plans to retire as Managing Director, the drugmaker has seen the elevation of the next generation of the promoter family, besides the appointment of a new MD and Global CEO.
The company on Friday announced the appointment of Samina Vaziralli, Hamied’s niece, as Executive Vice-Chairperson, and elevated Umang Vohra as MD and Global CEO.
Vaziralli will take on her new responsibilities on September 1. She was earlier Executive Director and Global Head of Strategy, Mergers and Acquisitions, and Cipla New Ventures.
Strategic priorities
“She will move on from her current responsibilities to focus on board and governance issues, in addition to growing Cipla’s strategic priorities through key global partnerships, corporate brand building and public advocacy,” a company note said. MK Hamied, YK Hamied’s brother, will continue to serve on the board as the Non-Executive Vice-Chairman.
Vohra’s appointment also kicks in next month, as the present head of the company, Subhanu Saxena, steps down on August 31 to “attend to emergent family priorities.”
Recent churn
Saxena had joined Cipla in February 2013 as CEO and Vohra joined the company in October 2015 as the Global Chief Financial and Strategy Officer.
Cipla has been seeing some churn at the top over the past three years, including the exit of Hamied’s nephew Kamil Hamied, last year.
“Having been aware of his (Saxena’s) personal circumstances, we respect Subhanu’s decision to leave Cipla. We thank him for his stewardship over the last three years and also for his availability to his successor over the next few months for any transition support,” YK Hamied said today.
“Both (Vohra and Vaziralli) have earned their new positions by the dint of the leadership and impact they have already made.
“Samina’s elevation also reinforces the long-term commitment of the promoter family to Cipla. I am confident that this planned transition will enable Cipla to move into its next orbit of growth while serving true to our mission that None Shall be Denied.”
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