Packaged consumer goods company Godrej Consumer Products Ltd (GCPL) on Wednesday announced that Godrej Group chairman Adi Godrej will step down from the board of directors of GCPL effective September 30, 2021. Godrej, 79, will remain chairman emeritus at the maker of Cinthol soaps and Goodknight mosquito repellents.
“It has been a privilege to serve Godrej Consumer Products. I am grateful to our board for their continued guidance, to all our team members for their passion for Godrej and helping build a company that we can all be proud of, and to our customers, business partners, shareholders, investors, and communities, for their deep partnership over the years,” Godrej said.
“The foundations of our company are very strong and I am very confident that Nisa (Nisaba Godrej) and our leadership team will continue to build forward and create even more sustainable, long-term value for all our stakeholders,” he said.
The company also announced the elevation of Sameer Shah, GCPL’s current head of finance and investor relations as the company’s chief financial officer (CFO) from September 1, 2021.
Shah will take over from V. Srinivasan, GCPL’s current CFO and company secretary, who is stepping down to pursue opportunities outside of the company, the company said in a filing.
{{/usCountry}}Shah will take over from V. Srinivasan, GCPL’s current CFO and company secretary, who is stepping down to pursue opportunities outside of the company, the company said in a filing.
{{/usCountry}}On Wednesday, GCPL also announced earnings for the June quarter. The company reported a 24% jump in quarterly consolidated sales, up from ₹2,311 crore it reported in the year ago period to ₹2,862 crore now. Its net profit for the three months ended June 30 was up 4.75% at ₹413.66. Consolidated earnings before interest, taxes, depreciation, and amortization, or Ebitda, grew 29%. The company’s India business sales grew by 19% year-on-year.