Glenmark Pharmaceuticals has made significant announcements under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with a major management reshuffle signaling a new chapter in its leadership journey.

Anurag Mantri Appointed as President (Senior Management Personnel)

On the recommendation of the Nomination and Remuneration Committee, Glenmark’s Board has passed a circular resolution dated April 6, 2025, to appoint Mr. Anurag Mantri as President (Senior Management Personnel). His appointment comes into effect from April 7, 2025. This elevation marks a strategic move by Glenmark to reinforce its top management team and prepare for a seamless leadership transition.

Anurag Mantri brings with him a wealth of experience and is expected to play a pivotal role in shaping the company’s operational and financial strategy going forward. His leadership is seen as crucial for Glenmark’s future roadmap, especially with the upcoming leadership vacancy in the Chief Financial Officer’s seat.

V.S. Mani Opts for Early Retirement

In another significant development, Mr. V.S. Mani, the Executive Director and Global Chief Financial Officer of Glenmark Pharmaceuticals, has informed the company about his decision to opt for early retirement. He will officially step down from his current roles at the close of business on May 26, 2025.

This change marks the end of an important era in Glenmark’s executive leadership. Mr. Mani has played a key role in shaping the company’s financial vision, leading various growth and cost optimization initiatives during his tenure. His decision to retire early is understood to be a personal one, and the company has acknowledged his valuable contributions to the business.

To ensure a smooth transition of responsibilities, Mr. Mani has agreed to continue with the company for a certain period, supporting the handover and strategic planning.

Future Leadership Consideration for Anurag Mantri

In a move that aligns with succession planning, Mr. Anurag Mantri’s candidature for the post of Executive Director and Global Chief Financial Officer will be put forward for approval by the Audit Committee, Nomination & Remuneration Committee, and the Board of Directors in the ensuing meetings.

Once approved, Mr. Mantri will take over the responsibilities currently held by Mr. Mani. This is seen as a well-planned leadership transition, ensuring continuity in Glenmark’s financial governance and executive leadership framework.

Strategic Importance of the Transition

This series of changes reflects Glenmark’s commitment to:

• Leadership continuity

• Proactive succession planning

• Organizational stability during key transitions

The early identification of Mr. Mantri as a potential successor indicates the company's confidence in his leadership capabilities and experience in financial and strategic roles.

Impact on Stakeholders and Governance

For stakeholders and investors, this announcement provides:

• Clarity on future leadership

• Assurance that corporate governance procedures are being followed

• A signal of stable and forward-looking executive planning

The appointment is in compliance with SEBI Listing Regulations, and the circular resolution route underscores the urgency and importance of the transition.

Conclusion

The change in leadership at Glenmark Pharmaceuticals is a crucial development in the Indian pharmaceutical landscape. The transition from V.S. Mani to Anurag Mantri represents both a generational change and a strategic realignment of the company’s vision and financial leadership.

As the Audit Committee and Board prepare to assess and potentially confirm Mr. Mantri’s elevation to the role of Executive Director and Global Chief Financial Officer, industry observers will be watching closely.

These moves reinforce Glenmark’s reputation for transparent governance, proactive leadership planning, and regulatory compliance, all of which are critical to maintaining stakeholder trust in a globally competitive pharmaceutical environment.

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