Drug maker Cipla today said that its Joint Managing Director Amar Lulla will exit the company with effect from December 13, 2010.
Lulla's contract as JMD of the Company will expire on December 13, 2010 and he has told the company that he is not in a position to continue his services in the above capacity on expiry of his current term, Cipla said in a filing to the Bombay Stock Exchange (BSE).
"In deference of his wishes, the board has accepted his request," it added.
Consequently, Lulla will cease to be the JMD of the company effective from the aforesaid date.
The company, however, did not disclose who will take Lulla's place. Queries sent to the company remained unanswered.
Shares of Cipla today closed at Rs 350.55 on BSE, down 4.92 per cent from its previous close.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app