Published On: Wed, Jun 10th, 2020

For first time, a Godrej becomes GCPL’s CEO

MUMBAI, June 10, 2020.

 In a major management change at Godrej Consumer Products (GCPL), Nisaba Godrej will take over the extra function of managing director & CEO from Vivek Gambhir, 51, who has resigned for private causes. This is the primary time for the reason that formation of GCPL that the  submit of MD & CEO shall be held by a member of the promoter household.

Nisaba, 42, who’s presently the chief chairperson of the corporate, will take over the extra accountability with impact from July 1, 2020. She was appointed chairperson by the board three years again after group patriarch, and Nisaba’s father, Adi Godrej assumed the function of chairman emeritus.

While there’s no readability as as to whether GCPL would seek for knowledgeable CEO, externally or internally, trade analysts termed the transfer as “sentimentally detrimental” because of investor considerations a few skilled MD being changed by a promoter.

In a press release, Nisaba, mentioned, “I want to thank the board for reposing their confidence in me. Humanity goes via tough occasions proper now and GCPL is dedicated to doing no matter is important to serve its stakeholders and neighborhood. I look ahead to working carefully with our proficient crew to drive our firm forward with readability, exhausting work, kindness and a powerful sense of function, to emerge stronger on the opposite aspect.”

Abneesh Roy, analysis analyst at Edelweiss Securities, who carefully tracks the corporate, mentioned, “This could possibly be sentimentally detrimental as there could be investor considerations that, after a very long time in GCPL, knowledgeable MD is being changed by a promoter household. However, Nisa has been carefully concerned in reinventing GCPL for a few years, particularly in improvements, acquisitions, trendy and worker pleasant work tradition and advertising. Also, many of the key departments of GCPL are headed by professionals. Ultimately, it should boil right down to the monetary efficiency of the corporate.”Gambhir is transferring on to chart the following part of his journey. “For the previous a few years, I’ve been dwelling away from my household and seeing them solely on weekends. Recently, I had some well being issues that made me suppose extra deeply about my life-style. Thankfully, I’ve absolutely recovered. I’d now like to have the ability to spend extra time with my household,” he mentioned.

Gambhir took over as MD & CEO of the corporate from A Mahendran in July 2013. Prior to that, he was chief technique officer at Godrej Industries and affiliate corporations, whereby he was a part of the crew that architected GCPL’s ‘3×3’ development technique (constructing presence in three classes throughout three geographies — Asia, Africa & Latin America). Before becoming a member of the Godrej group in 2009, Gambhir was a associate at Bain and Co.

During his tenure, GCPL’s revenues trebled from round Rs 1,700 crore in 2012-13 to about Rs 5,500 crore in 2019-20. “Over the final decade, GCPL has remodeled into a number one rising markets residence and private care firm, with formidable aspirations. I’m very grateful that I had the chance to guide such a unbelievable crew. I’ve partnered carefully with Nisa over a few years, and she or he has been a key architect of GCPL’s development journey. She has additionally been an incredible good friend. I’m certain that underneath her inspiring and genuine management, GCPL will obtain even higher success,” mentioned Gambhir.

On Gambhir, with whom she has had a powerful partnership for over a decade, Nisaba, mentioned, “He is somebody who has not solely created numerous worth for Godrej, however has additionally been a beautiful good friend and mentor to me.”

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