Proxy Advisers Back Sameer Hiremath For Hikal CMD, Leadership Continuity Takes Centre Stage

Mumbai: Proxy advisory firms have backed Sameer Hiremath's appointment as Hikal's Chairman and Managing Director, citing his extensive experience and leadership continuity. The recommendation is set to be voted on at the company's 38th Annual General Meeting on September 23, with Hiremath proposed for a five-year term starting October 1, 2026.

SES highlighted Hiremath's 30-year association with Hikal, noting his expertise in strategy, business development, customer relationships, Research & Technology, manufacturing, operations and industry engagement. IiAS also highlighted his presence on the board since 1999, underscoring the transition's role in maintaining leadership continuity.

Jai Hiremath, Sameer's father, will step down as Executive Chairperson from October 1, making Sameer the sole representative of the Hiremath family in an executive role. IiAS's assessment of the leadership transition emphasizes the importance of continuity. The advisory firm also referred to the Supreme Court's July 2026 mediation decision for the Kalyani-Hiremath dispute.

Both proxy firms recommended approving Hiremath's proposed remuneration of ₹12.9 million annually, a slight decrease from ₹13.4 million in FY26, stating it was within legal limits and aligned with previous compensation. However, they advised the company to be judicious with payouts. IiAS also backed Hikal's FY2025-26 dividend resolution, comprising a final dividend of ₹0.40 per share and the already paid ₹0.20 interim dividend.

The advisory firm additionally supported ratifying cost auditor fees but noted that certain software's audit-trail feature was not enabled for some privileged-user changes during the year.