{"id":15393,"date":"2012-10-09T05:39:03","date_gmt":"2012-10-09T03:39:03","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/update-2-s-africas-cipla-medpro-ceo-quits-shares-rise\/"},"modified":"2012-10-09T05:39:03","modified_gmt":"2012-10-09T03:39:03","slug":"update-2-s-africas-cipla-medpro-ceo-quits-shares-rise","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-2-s-africas-cipla-medpro-ceo-quits-shares-rise\/","title":{"rendered":"UPDATE 2-S.Africa&#8217;s Cipla Medpro CEO quits, shares rise"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* CEO and founder quits<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Says to take action against company<\/p>\n<p><span><\/span><\/p>\n<p>* Shares up over 5 pct<\/p>\n<p> (Adds analyst comment)<\/p>\n<p><span><\/span><\/p>\n<p>By Tiisetso Motsoeneng<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, Oct 8 (Reuters) &#8211; South Africa&#8217;s Cipla Medpro<br \/>\n said on Monday its chief executive had quit, ending<br \/>\nmonths of speculation about his suspension and raising questions<br \/>\nabout the generic drug maker&#8217;s tie-up with Cipla India<br \/>\n.<\/p>\n<p><span><\/span><\/p>\n<p>South Africa&#8217;s No.3 drug maker said in a statement that<br \/>\nJerome Smith had stepped down from the company he founded, after<br \/>\nbeing suspended in August pending an investigation into charges<br \/>\nagainst him.<\/p>\n<p><span><\/span><\/p>\n<p>Smith had been due to appear at a disciplinary hearing on<br \/>\nMonday but resigned first, the company said. Shares of Cipla<br \/>\nMedpro, which have been under pressure since Smith&#8217;s suspension,<br \/>\nrose nearly 6 percent.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;I have however been driven to take this decision by the<br \/>\nboard&#8217;s decision to suspend me, to forbid me from coming into<br \/>\nthe premises and to thereafter and without any proper foundation<br \/>\naccuse me of a list of misdeeds,&#8221; Smith said in a statement.<\/p>\n<p><span><\/span><\/p>\n<p>Smith also said he would take legal action against the<br \/>\ncompany, but did not give any details.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* CEO and founder quits * Says to take action against company * Shares up over 5 pct (Adds analyst comment) By Tiisetso Motsoeneng JOHANNESBURG, Oct 8 (Reuters) &#8211; South Africa&#8217;s Cipla Medpro said on Monday its chief executive had quit, ending months of speculation about his suspension and raising questions about the generic drug [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-15393","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15393","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=15393"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15393\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}