Change in Director / Key Managerial Personnel

Nature of change: Resignation and new appointment

Resignation Details:

  • Dr. Amrut Naik has resigned from his position as President and Business Unit Head, International Markets Business
  • Date of resignation: October 31, 2026
  • Effective relief date: November 7, 2026
  • He will cease to be part of the Senior Management team
  • Resignation reason: Personal decision (not specified in detail)

Appointment Details:

  • Mr. Christoph Stoller appointed as President and Business Unit Head, International Markets Business
  • Date of appointment: November 2, 2026
  • Term of appointment: Full-time employment
  • Appointment approved by Board of Directors based on recommendation of Nomination and Remuneration Committee
  • He will be part of the Senior Management team

Brief profile of Mr. Christoph Stoller:

  • Swiss pharmaceutical industry leader with more than 30 years of global experience
  • Educational qualification: Degree in Business Administration, Economics, Law, and Social Sciences from University of St. Gallen, Switzerland
  • Previous role: President & Business Head (EMEA, LATAM & APAC) at Glenmark Pharmaceuticals
  • Member of Glenmark's Global Leadership Team
  • Led approximately 2,000 employees across 80 countries
  • P&L responsibility exceeding USD 750 million
  • Major career achievements: Doubled European revenue at Glenmark from approximately USD 200 million and significantly improved EBITDA performance

Previous leadership roles:

  • Teva Pharmaceuticals (2011-2021): Senior Vice President & Cluster General Manager, Germany & Austria; Senior Vice President, Generics & Commercial Operations Europe
  • Managed businesses with up to USD 2 billion P&L and around 2,700 employees
  • Led European integration of Teva's acquisition of Actavis
  • Helvepharm AG: CEO and member of Executive Committee of Zur Rose Group
  • Earlier career: Leadership roles at Roche Pharma, DSM Nutritional Products, and Swiss Re

Industry Leadership & Governance:

  • Former President of Medicines for Europe (2019-2021), the leading European association representing generic and biosimilar medicine companies
  • Held Vice President and Executive Committee positions within Medicines for Europe
  • Former Vice Chairman of Progenerika (Germany) and Board Member of Intergenerika (Switzerland)

Regulatory Compliance:

  • Disclosure made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Compliance with SEBI Master Circular dated January 30, 2026
  • Signed by Dhaval N. Soni, Company Secretary and Compliance Officer (Membership No. FCS7063)

Key Financial or Operational Approvals

No financial or operational approvals disclosed in this filing beyond the management change.

Strategic or Business Context

No specific business outlook, strategic context, or operational updates provided in this disclosure beyond the management change details.

Any Other Material Information

  • The company confirmed compliance with all necessary disclosure requirements under SEBI Listing Regulations
  • All required annexures and documentation have been provided as per regulatory requirements
  • Digital signatures and proper authorization confirmed for all documents