YK Hamied seeks retirement as Cipla MD

The author has posted comments on this articleRupali Mukherjee, TNN | Feb 6, 2013, 08.32PM IST

MUMBAI: Cipla chairman and managing director Dr YKHamied --instrumental in making healthcare affordable by launching copy-cat copies of AIDS, cancer and other life-saving medicines, has decided to call it a day as the managing director. His brother, MK Hamied who's at present the joint MD, will continue as company's MD.

YK Hamied will however continue as non-executive chairman of the company with effect from April this year.

Hamied is credited for developing affordable generics of exorbitantly-priced medicines, and particularly for launching an AIDS cocktail drug at less than dollar a day, which revolutionised treatment a decade back.

"We have a good management team in place now, and Subhanu has also joined us recently. I'm confident that the company will continue to do well under the team's guidance", YK Hamied told The Times of India.

Cipla recently announced Subhanu Saxena as the company's CEO, who took over the reins from February this year. The top management team at Cipla includes whole-time director S Radhakrishnan. Hamied's nephew Kamil and niece Samina -- children of MK Hamied are already part of the company's core management team.

Cipla informed BSE that Dr Y K Hamied had expressed his desire to retire as managing director of the company. "The board unanimously acknowledges the outstanding contribution of Dr Hamied to the company over the past 52 years, and in deference to his wishes, has accepted his proposal to retire as MD effective March 31, 2013", the BSE filing said.

The company also posted robust results for the third quarter ended December 2012, with its gross revenue up 18% to Rs 2103 crore, while its net profit grew 25.5% to Rs 339 crore, up from Rs 270 crore in Q3 FY12.

Anda sedang membaca artikel tentang

YK Hamied seeks retirement as Cipla MD

Dengan url

http://makanansehatanak.blogspot.com/2013/02/yk-hamied-seeks-retirement-as-cipla-md.html

Anda boleh menyebar luaskannya atau mengcopy paste-nya

YK Hamied seeks retirement as Cipla MD

namun jangan lupa untuk meletakkan link

YK Hamied seeks retirement as Cipla MD

sebagai sumbernya