Cohance Lifesciences has announced a major leadership transition as Mr. Vivek Sharma prepares to step down as Executive Chairman and Director on April 30, 2026. He will remain with the company as a Special Advisor for nine months. Concurrently, Mr. Umang Vohra has been appointed as the new Additional Director, Chairman, and Group Chief Executive Officer, effective in May 2026. The company also approved a new Employee Stock Option Plan (ESOP) 2026.
Leadership Succession Plan
Following a successful tenure, Mr. Vivek Sharma will conclude his role as Executive Chairman and Director on April 30, 2026. To ensure a smooth transition and maintain business continuity, Mr. Sharma will transition into the role of Special Advisor, where he will support the organization for the next nine months.
The company has appointed Mr. Umang Vohra as the new Additional Director, designated as Chairman, effective May 1, 2026. Mr. Vohra will subsequently take on the responsibilities of Group Chief Executive Officer starting May 20, 2026. His term is set for five years, concluding on April 30, 2031.
Launch of ESOP 2026
To incentivize and retain talent, the Board has approved the Cohance Lifesciences Limited – Employee Stock Option Plan, 2026. The plan encompasses the granting of 25,918,613 options, representing approximately 6.25% of the company’s fully diluted equity share capital. Each option is convertible into one equity share of the company.
Strategic Outlook
The pricing for the new stock options is set at a minimum of INR 325 per share. The company has implemented measures to manage dilution effectively, noting that the aggregate dilution from both the existing ESOP 2023 and the new ESOP 2026 is expected to remain under 7.75% on a fully diluted basis over the next seven and a half years. This move aligns with the company’s long-term strategy to reward performance and drive future growth.
Source: BSE
