Niva Bupa Health Insurance Company Limited has informed the Exchange regarding Resignation of Mr. Carlos Antonio Jaureguizar Ruiz-Jarabo as Non- Executive Director of the company w.e.f. May 08, 2026.
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Niva Bupa's board approved multiple changes on May 8, 2026. Two Non-Executive Directors, Ms. Penelope Dudley and Mr. Carlos Antonio Jaureguizar Ruiz-Jarabo, resigned citing lack of time due to other professional commitments. They were replaced by Mr. Christopher Patrick Carroll (CEO of Bupa Global, India & UK) and Ms. Siobhan Djihan Moynihan (CFO of Bupa Global, India & UK) as Additional Non-Executive Directors effective May 15, 2026. Additionally, Mr. Ankur Kharbanda was promoted from Executive Director and Chief Business Officer to Executive Director and Deputy CEO. The board also approved a large ESOP grant of 12.25 million options at ₹72.45 per option to eligible employees under ESOP Scheme 2024.
The resignation of two Non-Executive Directors in one meeting and their immediate replacement by Bupa Group executives suggests a board reshuffle aligned with parent company priorities. The ESOP grant of 12.25 million options signals retention focus but may cause dilution. Overall, routine governance change with no adverse implications.