Mphasis Limited has announced the appointment of Richard Miller as Executive Vice President and Global Head of Insurance Business, effective April 27, 2026. The appointment was disclosed to stock exchanges under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Leadership Addition to Drive Insurance Growth

The appointment represents a strategic move by Mphasis to strengthen its insurance business vertical. According to the company's disclosure, Miller will lead the global insurance strategy, helping carriers modernize operations, transform core business processes, and apply AI to drive measurable business value.

"Banking, Financial Services & Insurance continues to be one of the key growth drivers for Mphasis. I am delighted to welcome Richard to the Mphasis executive leadership team. With his deep expertise in Insurance market, spanning several decades, Richard will play a crucial role in advancing our strategic growth agenda for the sector," said Nitin Rakesh, Chief Executive Officer and Managing Director, Mphasis.

Executive Profile and Experience

Richard Miller brings extensive experience in enterprise transformation, with the following career highlights:

Miller holds a bachelor's degree in electrical engineering from Lehigh University and has over 35 years of experience leading enterprise transformation for Fortune 500 companies, with a focus on the financial services sector.

Strategic Focus on AI-Led Transformation

In his new role, Miller will focus on helping insurance companies accelerate trusted AI-led transformation. His expertise lies in leading large-scale reinvention programs, seamlessly combining strategy and execution to drive meaningful operational transformation.

"I am thrilled to join Mphasis at an important inflection point for the insurance industry. Insurers are looking for practical ways to apply AI responsibly at scale. Mphasis has built a strong foundation in AI-led delivery, and I look forward to partnering with the leadership team to help our client's achieve their business goals powered by AI-driven innovation," said Richard Miller.

Regulatory Compliance

The appointment details were disclosed in accordance with regulatory requirements:

The company has fulfilled all disclosure requirements under SEBI circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, with detailed information available on the company's website at www.mphasis.com .

Mphasis Limited has granted 5,000 stock options to identified employees under its Employee Stock Option Plan 2016 (ESOP 2016), as announced through a regulatory filing dated 10 April 2026. The grant represents part of the company's ongoing employee incentive program designed to align employee interests with shareholder value.

Grant Approval and Timeline

The ESOP Compensation Committee approved the stock option grant through a resolution passed on 9 April 2026. The grant carries an effective date of 8 April 2026, establishing the baseline for all subsequent vesting and exercise calculations.

Stock Option Structure and Terms

The granted options feature a comprehensive structure designed to promote long-term employee retention and performance alignment:

Regulatory Compliance and Governance

The stock option grant operates under the provisions of SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, ensuring full regulatory compliance. The company has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The options are governed by the ESOP 2016 Plan, which received prior approval from stock exchanges during the in-principle approval process. Each option entitles the holder to apply for one equity share of the company, maintaining alignment with established corporate governance standards.

Implementation and Access

The grant information has been made available on the company's official website at www.mphasis.com , ensuring transparent communication with stakeholders. The filing was signed by Mayank Verma, SVP and Company Secretary (Membership No.: ACS 18776), confirming proper authorization and documentation of the employee benefit program.