Marico realigns businesses and senior management
In an attempt to have better profitability, Marico Ltd has announced a few changes with regard to its management, units, reports Saurabh Turakhia.Updated: Feb 02, 2007, 23:14 IST
In an attempt to have better profitability, Marico Ltd has announced a few changes with regard to its senior management and business units. Thus, Sundari business, earlier a standalone SBU has now been made a part of the International Business. It will continue to be headed by Vijay Subramaniam as the CEO-International Business.
Effectively, the Marico Group business organisation will now comprise three Strategic Business Units (SBUs), Consumer Products Business, Kaya Business and International Business and three Functional Units- Technology, Finance & IT and HR & Strategy.
Harsh Mariwala, Chairman and Managing Director said, "All the heads of the three SBUs will report to me." When asked whether Sundari had been registering slow growth and hence brought under International business, Mariwala denied saying that the business was too small to be handled directly and it made sense to bring it under the International business unit.
Saugata Gupta, hitherto Chief-Marketing and Sales will be the CEO of the Consumer Products SBU. Rakesh Pandey will continue to be CEO of the Kaya SBU. In addition, Pankaj Bhargava, Chief - HR, has chosen to pursue his passion in the area of HR & OD consulting.
Milind Sarwate, hitherto CFO, will now be Chief - HR & Strategy and will handle the HR role along with a newly created function of Strategy that includes Group Strategic Business Planning, M&A, Corporate Structuring and Corporate Communication. Vinod Kamath, hitherto Chief-Supply Chain and IT will be the new Chief-Finance & IT Dr Vilas Shirhatti will continue to be the Chief-Technology.
Mariwala also connected the realignment exercise with the group's growth plans, "While we have always been growing with a double digit CAGR in both turnover and profits over the post six years- the past two years have seen an acceleration in growth.
This re-organisation is aimed at giving each business a higher thrust & focus to enable growth and providing the right platform for Functional support for growth." According to him, the move enabled to bring synergies together.
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