Cohance Lifesciences Announces Changes in Leadership and Approves Employee Stock Option Plan
Cohance Lifesciences Limited announced key changes in its corporate governance structure and operational plans following a meeting of its Board of Directors held on April 27, 2026. The Board reviewed and approved the resignation of the Executive Chairman, the appointment of a new director and chief executive officer, and the adoption of a new employee stock option plan.The Board noted the resignation of Mr. Vivek Sharma, who served as Executive Chairman and director. Mr. Sharma will cease to hold his roles with effect from the close of business hours on April 30, 2026. Following his resignation, Mr. Sharma will continue to provide services to the Company as a Special Advisor for the next nine months, ensuring a smooth business transition. The Board expressed appreciation for his contributions during his tenure.
Appointment of Umang Vohra
In a significant corporate governance move, the Board of Directors approved the appointment of Mr. Umang Vohra as an Additional Director and designated Chairman. Furthermore, he was appointed as the Group Chief Executive Officer.The appointment period is set for five years, commencing from the opening business hours of May 1, 2026, until April 30, 2031. Mr. Vohra is designated as Chairman effective May 1, 2026, and as Group Chief Executive Officer effective May 20, 2026. The company confirmed that Mr. Vohra is not related to any of the current Directors or Key Managerial Personnel, nor is he debarred from holding the office of Director.
The appointment details are summarized below:
| Role | Appointee | Term Start Date | Term End Date | Notes |
|---|---|---|---|---|
| Additional Director/Chairman | Mr. Umang Vohra | May 1, 2026 | April 30, 2031 | Designated Chairman |
| Group Chief Executive Officer | Mr. Umang Vohra | May 20, 2026 | April 30, 2031 |
Approval of Employee Stock Option Plan
The Board of Directors also approved the adoption of the Cohance Lifesciences Limited - Employee Stock Option Plan, 2026. This plan facilitates share-based employee benefits, subject to subsequent shareholder approval.Under the new plan, the company can offer and grant 25,918,613 employee stock options. Each option is convertible into one equity share of the Company with a face value of INR 1/-.
The plan details reveal the following key figures:
| Parameter | Details |
|---|---|
| Total Options to be Granted | 25,918,613 Options |
| Representation of Options | 6.25% of fully diluted equity share capital |
| Minimum Exercise Price | Not less than INR 325 per share |
| Vesting Period | Options shall vest no earlier than 1 year and no later than 8 years from the date of grant. |
| Exercise Period | Up to 3 years from the date of vesting of options. |
The company stated that the total expected dilution resulting from stock options under this plan and the existing Cohance Lifesciences Limited Stock Option Plan 2023 is expected to be not more than 7.75% over a period of 7.5 years.
The Board also approved the notice for a postal ballot seeking shareholder approval for the matters concerning the appointment of Mr. Vohra and the Employee Stock Option Plan, 2026.
COHANCE Stock Price Movement
Shares of COHANCE LIFESCIENCES LIMITED are surging in live trading, rallying 5.62% to ₹380.35 as of 9:19 AM. The stock action is backed by robust investor interest, with 50,062 shares having changed hands today.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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