Cipla Ltd. announced significant senior management changes and updates to its employee stock option schemes. Mr. Shivam Puri has been appointed as the Chief Executive Officer – One India Business and designated as Senior Management Personnel, effective July 1, 2026. The company also approved the grant of stock options and Employee Stock Appreciation Rights (ESARs) under its existing schemes.
Senior Management Appointments
Cipla Ltd. has announced key appointments within its senior management structure, effective July 1, 2026. Mr. Shivam Puri, currently the Managing Director and Chief Executive Officer of Cipla Health Limited, a wholly-owned subsidiary, has been appointed as the Chief Executive Officer – One India Business. Furthermore, he has been designated as a member of the Management Council and recognized as Senior Management Personnel of Cipla Limited.
Details of Mr. Shivam Puri’s Appointment
Mr. Puri’s appointment is for a full-time employment term. His extensive experience includes over 23 years in leadership roles across both FMCG and healthcare sectors. Prior to his current role at Cipla Health, which he joined in 2019, he held senior positions at Hindustan Unilever Limited, Jubilant FoodWorks Limited, and ITC Limited. He holds a Bachelor of Technology degree from IIT Varanasi (BHU) and an MBA from IIM Lucknow. His background highlights a strong commercial acumen and consumer-centric approach.
Employee Stock Option and ESAR Grants
In addition to management changes, Cipla Ltd. has approved the grant of stock options and Employee Stock Appreciation Rights (ESARs). These grants are made in accordance with the terms of the Cipla Employee Stock Option Scheme 2013-A and the Cipla Employee Stock Appreciation Rights Scheme 2021. These initiatives are designed to align employee interests with the company’s long-term growth and performance.
Scheme Details
Under the ESOS 2013-A, 11,360 stock options have been granted, exercisable 5 years from the grant date, with vesting commencing 2 years from the grant date. For the ESAR 2021 scheme, 51,394 Employee Stock Appreciation Rights have been granted, with a 5-year exercise period from vesting date and a graded vesting over 3 years. The exercise price for both stock options and ESARs is INR 2 per unit.
Source: BSE
