The Burmans, promoters of homegrown consumer goods major Dabur, have handed over the baton to the next generation. The company has promoted Anand C Burman, son of AC Burman as the new non-executive chairman of the board. He will replace VC Burman, younger brother of AC Burman. Before this, Anand was vice-chairman of the company.
The board also approved the appointment of Amit Burman, late GC Burman’s son, as vice-chairman of the company. Amit was earlier heading the erstwhile wholly owned subsidiary, Dabur Foods. The board also inducted VC Burman’s son Mohit into the board. Mohit had spearheaded the Balsara buy over a year ago.
With these changes, the old Burman generation has taken a back seat. AC Burman continues to be chairman emeritus and remain the guiding force. The changes in the board will not have much impact as the Burmans have already appointed professionals for each vertical.
“The reconstitution of the board will provide renewed vigour to Dabur’s ambitious growth charter, and give the younger generation an opportunity to contribute towards strengthening its position as a global leader in the health and wellness spectrum,” said VC Burman.
“Dabur is clearly a company on a high growth path. The company, under a highly talented management team, has maintained its leadership position in the consumer goods market in India, and continues to grow at a fast pace. I am very confident that this team will continue to deliver sustainable results in the long term,” said Anand Burman.
The company reported 18 per cent growth in net profit during the first quarter of 2007-08 to Rs 54.06 crore from Rs 45.84 crore in the same period last year. Sales rose to Rs 445.31 crore from Rs 387.68 crore in the corresponding quarter of 2006-07. Revenue from overseas businesses grew 54 per cent. The company has five manufacturing plants overseas, mostly in West Asia and Africa.