Godrej Consumer Products Limited (GCPL) today announced changes to its leadership team, effective May 10, 2017 where Nisaba Godrej, now the executive director of the company, will become the executive chairperson.
Godrej Consumer Products is the flagship company of the parent Godrej Group, which is still chaired by Adi Godrej. "I feel very confident that Nisa will be an outstanding Executive Chairperson", Godrej group chairman Adi Godrej said. Insiders claim it's she who ensured that the company never went overboard with its inorganic growth strategy.
Holding a Master's degree in management from the Massachusetts Institute of Technology, Adi Godrej oversaw global expansion of Godrej Consumer, building presence in emerging markets of Asia, Africa and Latin America across three categories of home care, personal wash and hair care.
For the full year, net profit rose 57.57% to Rs 1304.08 crore in the year ended March 2017 as against Rs 827.61 crore during the previous year ended March 2016.
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The total income from operations of the company stood 12.78 per cent up at Rs 2,489.49 crore during the quarter under review from Rs 2,207.37 crore reported during the same period of FY 2015-16. The foundations of GCPL are extremely strong.
Nisaba is known for having effected several changes in the company, most notably Project Leapfrog that has seen revenue jump ten times and a 20-time increase in market capitalisation over the last 10 years. I am grateful to our Board for their thoughtful and planned approach to executing our succession plan. She has also institutionalised design driven thinking and directly leads product development. She has also been hands on in identifying and developing in-house talent for the group with an oversight of the Group HR function for Godrej Industries and associate companies.
Shares of GCPL were trading at Rs 1,890.00 on BSE during afternoon trade, up 7.51 per cent from previous close. The GIL board which has Dubash and Nadir, Adi's younger brother, as directors will meet in two week to declare company's financial results, TOI report added.
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