Mohit Malhotra named CEO Designate of Dabur India Ltd.
Deepthi | Myequity news | Date : 31-01-2019 15:35:00 IST
The Dabur India Ltd board today approved the appointment of Mr. Mohit Malhotra as the company's New Chief Executive Officer with effect from April 1, 2019. Mr. Malhotra, who is currently the CEO of the company's India business, will succeed current CEO Mr. Sunil Duggal.
Announcing the appointment, Dabur India Ltd Chairman Dr. Anand C Burman said: "During the last few years, the Board of Directors of the Company had undertaken a Succession Planning exercise to identify the successor to take over the responsibility from Mr. Sunil Duggal, who has been the Dabur India Ltd CEO since 2002. Mr. Duggal was entrusted with the responsibility of ensuring a smooth transition. As a result of this process, Mr. Mohit Malhotra was found to be suitable as a successor to Mr. Duggal. Therefore, on the recommendation of the Nomination and Remuneration Committee, the Board today approved the appointment of Mr. Malhotra as the new Chief Executive Officer of Dabur India Ltd."
"I, on behalf of the Dabur Board, thank Mr Sunil Duggal for his invaluable contribution of over 24 years with the organization, including 17 years as the CEO. I also wish Mr. Mohit Malhotra all the best and we are confident that under his leadership, the Company will continue to grow," Dr Burman added.
Mr. Malhotra, who was also appointed as a Whole-Time Director of the Company with effect from January 31, 2019, will work as CEO-Designate till March 31,2019, under the guidance of Mr. Duggal. Consequently, Mr. Duggal will hold the position of CEO till the end of financial year 2018-19, and will remain a Whole- Time Director till May 15, 2019. Mr. Duggal will then continue as a Non-Executive Director till July 30, 2020.
Mr. Malhotra, 49 years old, is a Management Graduate from Pune University and holds Executive Masters in International Business from Indian Institute of Foreign Trade, New Delhi. He joined Dabur as a Management Trainee in 1994 and handled key assignments in Marketing and Sales, besides being CEO of Dabur International, based out of Dabur, before taking charge as the CEO-lndia Business in his current position. About Dabur India Ltd:
Dabur India Limited is one of India's leading FMCG Companies. Building on a legacy of quality and experience for 135 years, Dabur is today India's most trusted name and one of the world's largest Ayurvedic and Natural Health Care Company. Dabur India's FMCG portfolio today includes five flagship brands with distinct brand identities - Dabur as the master brand for natural healthcare products, Vatika for premium personal care, Hajmola for digestives. Real for fruit-based beverages, and Fern for fairness bleaches & skin care.