Cipla said on Wednesday that Yusuf Khwaja Hamied (77), the company’s CMD, would retire as MD on March 31, after serving for 52 years. Hamied, however, will continue to be the chairman in a non-executive role, effective April 1. “Nothing has changed. We have a strong management team in place, with a professional CEO and three family members in the business,” Hamied told FE. “I will not be involved on a day-to-day basis, but will be more like a godfather.” MK Hamied, younger brother to YK Hamied, is joint MD of Cipla. In 2010, Kamil Hamied, son of MK Hamied was inducted as a member of the Cipla management team. Samina Vaziralli, MK Hamied’s daughter, has also joined the company. YK Hamied, a staunch campaigner of process patents, had caught international attention when, in 2001, Cipla said it would make its triple cocktail of antiretroviral drugs available in developing countries for $350 per patient per year.
Mukund Govind Rajan in new role at Tatas
In the first major executive changes in the Tata Group after Cyrus Mistry took over as chairman in December, Tata Sons, the group holding company, named Mukund Govind Rajan as brand custodian and spokesperson for the group, with immediate effect. Rajan, who has been with the Tata Group for over 18 years, will oversee and manage all corporate communications and brand-related activities for the group in India and overseas. He will also serve as the chief ethics officer of the group and will oversee all Tata Group corporate social responsibility activities as chairman of the Tata Council for Community Initiatives. Rajan will report directly to Mistry. Rajan, an IIT Delhi graduate, started his career as a Tata Administrative Service officer.
Tata Capital elevates Padmanabh Sinha
Tata Capital said it has decided to elevate Padmanabh (Paddy) Sinha from chief investment officer to managing partner and Bobby Pauly to the role of partner of the advisory team for the Tata Opportunities Fund. Rajesh Singhal, Sinha and Pauly will now constitute the leadership at the Indian advisory team of the Singapore-based Tata Opportunities Fund. Mukund Govind Rajan will continue to be associated with the Tata Opportunities Fund and will join Praveen Kadle, CEO and MD of Tata Capital, as a member on the Advisory Board of the Tata Opportunities Fund in Singapore.
SK Pal is finance director at NBCC
SK Pal has taken over as new director-finance in National Buildings Construction Corporation, a PSU under the administrative control of the urban development ministry. Prior to taking up assignment, he was with Ircon. A chartered accountant by training, Pal has spent more than thirty years as a finance professional..
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