Adi Godrej to step down from GCPL board subsequent month; to stay as chairman emeritus

NEW DELHI: Veteran industrialist and Godrej Group chairman Adi Godrej will step down from the board of Godrej Client Merchandise Ltd (GCPL) subsequent month.
After stepping down from the board with impact from September 30, he’ll stay as Chairman Emeritus of the FMCG agency, in accordance with a press release issued on Wednesday.
The 79-year-old industrialist handed on the baton of GCPL to his youthful daughter Nisaba Godrej in 2017 after main the corporate for 17 years. She is the Chairperson and Managing Director of the Rs 11,000 crore-group agency.
“It has been a privilege to serve Godrej Client Merchandise. I’m grateful to our board for his or her continued steerage; to all our staff members for his or her ardour for Godrej and serving to construct an organization that we are able to all be happy with; and to our clients, enterprise companions, shareholders, traders, and communities, for his or her deep partnership through the years,” he mentioned.
Adi Godrej additionally mentioned that the corporate’s foundations are very sturdy. “I’m very assured that Nisa and our management staff will proceed to construct ahead and create much more sustainable, long-term worth for all our stakeholders,” he added.
Within the assertion, Nisaba Godrej thanked her father for his imaginative and prescient and steerage that has helped form and rework GCPL.
“The values that he has taught us, mixed along with his disciplined, outcomes pushed, and humble strategy, will all the time be the core of our DNA. Our management staff will proceed to attract from this as we drive Godrej Client Merchandise ahead with a robust sense of function and ambition,” she mentioned.
Adi Godrej has served on the helm of a number of Indian commerce and industrial our bodies, and associations. Amongst others, he’s the previous chairman of the Board of the Indian Faculty of Enterprise, and was President of the Confederation of Indian Business.
He has been a member of the Dean’s Advisory Council of the MIT Sloan Faculty of Administration, Chairman of the Board of Governors of the Narsee Monjee Institute of Administration Research and a member of the Wharton Asian Govt Board.
He’s additionally a recipient of a number of awards and recognitions, together with The Rajiv Gandhi Award 2002 and The American India Basis (AIF) Management in Philanthropy Award, 2010.
GCPL has additionally made adjustments in its management staff following the resignation of Chief Monetary Officer and Firm Secretary V Srinivasan.
“Sameer Shah, GCPL’s present Head of Finance and Investor Relations, will take over because the Chief Monetary Officer of the corporate,” it mentioned.
In Could this 12 months, GCPL introduced appointment of rival HUL’s Govt Director Sudhir Sitapati as the corporate’s new Managing Director and CEO.
His appointment can be efficient from October 18, 2021. Then, Nisaba Godrej, who’s presently the Chairperson and Managing Director, will function the corporate’s Govt Chairperson.
GCPL, a part of the greater than 124 years-old Godrej group, is constructing its presence within the rising markets of Asia, Africa and Latin America throughout three classes — residence care, private care and hair care.
It ranks among the many largest family insecticide and hair care gamers within the rising markets.

Updated: August 4, 2021 — 10:50 PM

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