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Cipla's CEO Departs Amid "Text-Book" Succession Plan For Future

 
• By Anju Ghangurde

Cipla has announced the departure of its CEO Subhanu Saxena and the elevation of a promoter family member, Samina Vaziralli, as it transitions to its next phase of growth. Vaziralli's elevation reinforces the long-term commitment of the promoter group to Cipla and comes amid on-and-off speculation that the company may be a sell-off candidate.

Cipla Ltd.'s managing director and global CEO, Subhanu Saxena, has stepped down to attend to "emergent family priorities", handing over the baton to the firm's global chief operating officer (COO) Umang Vohra effective Sept. 1.

Saxena's exit ends long-running speculation that the ex-Novartis honcho may be on his way out as the Mumbai head-quartered firm...

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