Ipca Laboratories Limited announced that as a move towards orderly succession plan, the Board has accepted the letter of Mr. Premchand Godha stating that he wishes to step down as the Managing Director and CEO of the Company upon completion of his current tenure of appointment ending on March 31, 2023. He has, however, offered his services to continue as the Whole-time Director designated as the Executive Chairman of the Company with effect from April 1, 2023. The Board on the recommendation of the Nomination and Remuneration Committee has re-designated/appointed of Mr. Pranay Godha (DIN 00016525) as the Managing Director and CEO of the Company with effect from April 1, 2023 for the remainder period of his current tenure of appointment till November 10, 2023.

This re-designation/appointment is subject to the approval of the members of the Company.