Cipla appoints Shivam Puri as CEO – One India Business effective July 1, 2026

Cipla Limited has appointed Mr. Shivam Puri as the Chief Executive Officer – One India Business and a member of the Management Council, effective July 1, 2026. The Board of Directors designated him as a Senior Management Personnel of the company. Mr. Puri currently serves as the Managing Director and Chief Executive Officer of Cipla Health Limited, a wholly owned subsidiary focused on consumer healthcare and wellness products. This leadership change aims to strengthen the company's consumer healthcare vertical.

Leadership Background

Mr. Puri brings over 23 years of leadership experience across the FMCG and healthcare sectors. He has been leading Cipla Health since 2019, transforming it into a leading fast-moving wellness goods company. Prior to joining the group, he held senior roles 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.

Stock Options and ESAR Grants

Concurrently, the Board approved the grant of stock options and Employee Stock Appreciation Rights (ESARs) to Mr. Puri. The grants were made under the Cipla Employee Stock Option Scheme 2013-A and the Cipla Employee Stock Appreciation Rights Scheme 2021, in compliance with SEBI regulations. The details of the grants include 11,360 stock options under the ESOS 2013-A and 51,394 ESARs under the ESAR 2021 scheme. The exercise price for both instruments is INR 2.

Grant Details

Scheme:	Type of Option	No. of Options / ESARs Granted	Vesting Period / Date	Exercise Period
ESOS 2013-A	Stock Options	11,360	2 years from the grant date	5 years from vesting date
ESAR 2021	Employee Stock Appreciation Rights (ESARs)	51,394	3 years graded vesting	5 years from vesting date

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.63%	-1.87%	-5.68%	-9.92%	-11.54%	+41.19%

Cipla has received a Voluntary Action Indicated (VAI) classification from the United States Food and Drug Administration (USFDA) following an inspection of its Goa manufacturing facility. The VAI designation, accompanied by observations, indicates that no immediate regulatory action is required by the USFDA at this stage.

USFDA Inspection Outcome

The USFDA's classification of the Goa facility inspection as VAI with observations is a standard regulatory outcome that places the facility in a category where corrective measures, if any, are left to the company's discretion without mandating immediate enforcement action. This is generally considered a favorable result in the context of USFDA inspections.

Parameter:	Details
Facility:	Cipla Goa Manufacturing Facility
Regulatory Authority:	USFDA (United States Food and Drug Administration)
Inspection Classification:	Voluntary Action Indicated (VAI)
Observations:	Yes
Immediate Action Required:	No

Regulatory Significance

A VAI classification by the USFDA signifies that observations were recorded during the inspection, but these do not warrant official regulatory action or enforcement measures at this time. This outcome is distinct from more serious classifications such as Official Action Indicated (OAI), which would require mandatory corrective steps. The designation underscores that Cipla's Goa facility has met the threshold to avoid immediate compliance intervention from the USFDA.