Aug 11 (Reuters) – Godrej Consumer Products of India announced on Tuesday the appointment of Aasif Malbari, its current CFO, as chief executive and managing director for a five-year term. This decision comes just months after the company had reappointed Sudhir Sitapati as CEO. Malbari is scheduled to take over from Sitapati on August 12. In related news, Vishal Kedia has been named interim CFO.
It is noteworthy that in May, the consumer goods company had reappointed Sitapati as CEO and MD for a five-year period, effective October 18. Following these announcements, Godrej Consumer Products shares closed 0.8% lower on the day. Last week, the company reported an 11.5% rise in its quarterly profit, attributing the growth to steady demand and robust volume increases.
(Reporting by Mridula Kumar and Kashish Tandon in Bengaluru; Editing by Sonia Cheema)
