Cipla has appointed Shivam Puri, the managing director and chief executive officer of its wholly owned subsidiary Cipla Health, as Chief Executive Officer of its One India Business, as the drugmaker strengthens leadership of its domestic operations.
The appointment, approved by the board of directors, will take effect from July 1. Puri will also become a member of Cipla's Management Council and will be designated as a senior management personnel of the company, Cipla said in a regulatory filing on Tuesday.
Also Read: Cipla launches drug for obesity, diabetes
Puri currently leads Cipla Health, the company's consumer healthcare and wellness business, a role he assumed in 2019. Under his leadership, the business expanded its portfolio across categories including smoking cessation, pain care, cough and cold remedies, skincare, haircare and nutrition, helping transform the unit from a startup venture into one of India's leading fast-moving wellness goods companies, the filing said.
With more than 23 years of experience spanning the fast-moving consumer goods and healthcare sectors, Puri brings extensive commercial and consumer-focused expertise to the role.
Before joining Cipla Health, he held senior leadership positions at Hindustan Unilever, Jubilant FoodWorks and ITC. During his more than 15-year stint at Hindustan Unilever, he led businesses including the Pureit water purifier portfolio, the homecare division and modern trade operations, while also working on brands such as Surf Excel.
Also Read: Cipla launches inhalable insulin for diabetes care
Puri holds a Bachelor of Technology degree from IIT Varanasi (BHU) and an MBA from the Indian Institute of Management, Lucknow.
Separately, Cipla's board also approved grants under its employee stock compensation plans. The company granted 11,360 stock options under the Employee Stock Option Scheme 2013-A and 51,394 employee stock appreciation rights under the Employee Stock Appreciation Rights Scheme 2021.
The stock options will vest after two years from the grant date and can be exercised within five years of vesting, while the ESARs will vest over three years on a graded basis and will remain exercisable for five years from vesting. Both were granted at an exercise price of 2 rupees each.
