Niva Bupa Health Insurance Company Limited has informed the Exchange about elevation of Mr. Ankur Kharbanda (currently designated as Executive Director and Chief Business Officer) as Executive Director and Deputy Chief Executive Officer effective May 08, 2026.
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Niva Bupa's Board meeting on May 8, 2026 approved multiple changes: (1) Two Bupa Group executives—Mr. Christopher Patrick Carroll (CEO of Bupa Global, India & UK) and Ms. Siobhan Djihan Moynihan (CFO of Bupa Global, India & UK)—were appointed as Additional Non-Executive Directors effective May 15, 2026, subject to shareholder approval within 3 months; (2) Mr. Ankur Kharbanda was elevated from Executive Director & CBO to Executive Director & Deputy CEO effective May 8, 2026; (3) The company granted 12,251,268 ESOPs (valued at Rs. 72.45 per option) to eligible employees under ESOP Scheme 2024; (4) Two Non-Executive Directors—Ms. Penelope Ruth Dudley and Mr. Carlos Antonio Jaureguizar Ruiz-Jarabo—resigned effective close of business on May 8, 2026, citing insufficient time due to other professional commitments.
The resignation of two non-executive directors on the same day could raise governance concerns, though their replacements from the Bupa Group (parent) provide continuity. The ESOP grant signals retention focus, while the Deputy CEO elevation strengthens the executive succession pipeline.