Abbott India accepted the resignation of Sangeeta Shetty as Company Secretary and Compliance Officer. She will be relieved from her duties effective the close of business hours on October 28, 2026.

The Board of Directors approved the resignation, which Shetty submitted to pursue an external career opportunity. The company made the disclosure in compliance with Regulation 30 read with Schedule III of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Resignation Details

Shetty confirmed in her resignation letter that there are no other material reasons for her departure besides the stated career move. This confirmation aligns with Clause 7C of Part A of Schedule III of the SEBI Listing Regulations.

Managing Director Kartik Rajendran signed the intimation letter addressed to BSE Limited on September 7, 2026. The filing included Annexure A with specific details regarding the change in key managerial personnel.

Abbott has reached agreements with three law firms to resolve the Gill case and claims involving approximately 2,000 other individuals regarding its specialty formulas for preterm infants.

The company agreed to an aggregate settlement of approximately $670 million. This amount covers the resolution of the Gill case as well as necrotizing enterocolitis (NEC) claims asserted on behalf of the additional infants.

Legal Background

In July 2024, a St. Louis jury awarded the plaintiff in the Gill case $495 million in damages. Abbott appealed this verdict to the Missouri Court of Appeals in December 2024, but the appeal was denied.

Faced with the prospect of continuing appeals or paying approximately $600 million—representing the Gill judgment plus accrued interest to date—Abbott opted for the settlement. The agreement resolves both the specific Gill judgment and the broader group of NEC claims.

What the Numbers Show

The settlement structure indicates a strategic decision to cap total liability. By settling the Gill case (valued at approximately $600 million with interest) alongside ~2,000 additional claims for a combined $670 million, the company effectively resolved the broader litigation exposure for a marginal premium over the standalone Gill obligation.