Nisaba Godrej, the executive chairperson of Godrej Consumer Products Limited, will take over as MD and CEO on July 1.
Godrej Consumer share price was down over 4 percent intraday on June 10 after Vivek Gambhir resigned as Managing Director and Chief Executive Officer of the company.
Nisaba Godrej, the executive chairperson of Godrej Consumer Products Limited (GCPL), will take over as MD and CEO on July 1, 2020.
The stock, which has gained over 22 percent in the last one month, was quoting at Rs 632.00, down Rs 27.35, or 4.15 percent at 1511 hours. It has touched an intraday high of Rs 659.60 and an intraday low of Rs 626.95.
Gambhir will step down from the position on June 30 and will continue to be on the company's board as a whole-time director until September 30, 2020.
Nisaba is also the chairperson of non-profit organisation Teach for India and sits on the board of Godrej Agrovet and VIP Industries.
"I would like to thank the board for reposing their confidence in me. Humanity is going through difficult times right now and GCPL is committed to doing whatever is necessary to serve its stakeholders and community. I look forward to working closely with our talented team to drive our company ahead with clarity, hard work, kindness and a strong sense of purpose, to emerge stronger on the other side," said Nisaba.
After 11 fulfilling and wonderful years with Godrej, it was time for him to move on to chart the next phase of his journey, Gambhir said. "For the past many years, I have been living away from my family and seeing them only on weekends. Recently, I had some health problems that made me think more deeply about my lifestyle. Thankfully, I have fully recovered. I would now like to be able to spend more time with my family," he added.
