Godrej Consumer Products Ltd recently announced that its Managing Director and Chief Executive Officer Vivek Gambhir has decided to step down from the position citing personal reasons. His resignation will come in effect on June 30.
In an exchange filing, the company said that he will be replaced by Nisaba Godrej who is currently the executive chairperson of the company. She will continue to handle her previous position while additionally taking charge of the company. Nisaba is the daughter of the Godrej Group Chairman Adi Godrej.
“Nisaba Godrej has been appointed as Managing Director from 1 July to 30 September 2022, subject to the approval of the shareholders at the annual general meeting. She will also continue to be the Chairperson of the board till 31 March 2022 and designated as Chairperson and Managing Director,” said the filing.
A Harvard Business School alumnus, Gambhir had joined GCPL in 2009 as Chief Strategy Officer. He was elevated to the position of MD and CEO in 2013. He will now continue to be on the company board as a whole-time director till the end of September this year.
Commenting on his departure, Gambhir Said, “After 11 fulfilling and wonderful years with Godrej, it is time for me to move on to chart the next phase of my journey. For the past many years, I have been living away from my family and seeing them only on weekends. Recently, I had some health problems that made me think more deeply about my lifestyle. Thankfully, I have fully recovered. I would now like to be able to spend more time with my family.”
Speaking on her appointment, Nisaba Godrej said, “I would like to thank the board for reposing their confidence in me. Humanity is going through difficult times right now and GCPL is committed to doing whatever is necessary to serve its stakeholders and community. I look forward to working closely with our talented team to drive our company ahead with clarity, hard work, kindness, and a strong sense of purpose to emerge stronger on the other side.”
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