Cipla Ltd. has announced key senior management changes and the grant of stock options. Mr. Shivam Puri has been appointed Chief Executive Officer – One India Business and Senior Management Personnel, effective July 1, 2026. The company also disclosed grants under its Employee Stock Option Scheme 2013-A and Employee Stock Appreciation Rights Scheme 2021, providing details on the number of options/ESARs, vesting periods, and exercise periods.
Key Personnel Changes and Stock Option Disclosures
Cipla Ltd. has informed the stock exchanges about significant developments concerning its leadership and employee incentive programs. The Board of Directors has approved the appointment of Mr. Shivam Puri as the Chief Executive Officer – One India Business and a member of the Management Council. Mr. Puri will also hold the designation of Senior Management Personnel of the Company. This appointment is effective from July 1, 2026.
Mr. Shivam Puri’s Profile and Appointment Details
Mr. Puri currently serves as the Managing Director and Chief Executive Officer of Cipla Health Limited, a wholly-owned subsidiary. His tenure at Cipla Health, which began in 2019, has seen significant growth in its consumer healthcare and wellness product portfolio. With over 23 years of leadership experience in the FMCG and healthcare sectors, including prior roles at Hindustan Unilever Limited, Jubilant FoodWorks Limited, and ITC Limited, Mr. Puri brings extensive commercial acumen and consumer-centric expertise to his new role. He holds a Bachelor of Technology from IIT Varanasi (BHU) and an MBA from IIM Lucknow. The disclosure confirms that there are no applicable relationships with other directors to report.
Employee Stock Option and Appreciation Rights Grants
In a separate disclosure, Cipla Ltd. has provided details regarding the grants made under its Employee Stock Option Scheme 2013-A (“ESOS 2013-A”) and the Cipla Employee Stock Appreciation Rights Scheme 2021 (“ESAR 2021”). These grants are made in accordance with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.
ESOS 2013-A Grants:
- Type of Option: Stock options
- No. of options granted: 11,360
- Vesting period: 2 years from the grant date
- Exercise period: 5 years from vesting date
- Exercise price: INR 2 per stock option
ESAR 2021 Grants:
- Type of Option: Employee Stock Appreciation Rights (ESARs)
- No. of ESARs granted: 51,394
- Vesting period: 3 years graded vesting
- Exercise period: 5 years from vesting date
- Exercise price: INR 2 per equity share
These disclosures are intended to provide transparency regarding the company’s compensation and incentive structures for its employees and management.
Source: BSE
