Image Source: Business Today
FMCG giant Marico Ltd has formally reappointed its Managing Director & Chief Executive Officer (MD & CEO) Saugata Gupta for a two-year period, effective from April 1, 2024, to March 31, 2026. The Board of Directors gave the approval for the same, based on the recommendation of the Nomination and Remuneration Committee. A detailed analysis is as follows:
Leadership Continuity & Strategic Vision
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Gupta joined Marico in 2004, first as Head of Marketing and later as CEO of India Business in 2007.
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He became Managing Director in 2014, spearheading Marico's growth and innovation initiatives.
Board's Decision & Shareholder Approval
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His reappointment was approved by the Board of Directors, subject to shareholder approval.
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The company highlighted Gupta's leadership in spearheading growth and market expansion.
Marico's Financial Performance & Growth Plans
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Marico posted a 5% increase in net profit to ₹333 crore in Q3 FY24.
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Revenue from operations increased by 2.6% YoY to ₹2,470 crore.
New Board Appointment: Rajan Bharti Mittal
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The company also appointed Rajan Bharti Mittal as an Independent Director for a period of five years (July 1, 2023 – June 30, 2028).
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Mittal is the Vice-Chairman of Bharti Enterprises, and his strategic experience will be added to Marico's board.
Gupta's Industry Influence & External Roles
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Outside of Marico, Gupta is an Independent Director on the Board of Ashok Leyland.
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He is also linked to Delhivery and is the Chairman of the Nomination and Remuneration Committee.
Future Outlook & Market Positioning
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Marico seeks to further build its FMCG portfolio with a thrust in health, wellness, and digital growth.
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The leadership of Gupta is set to propel innovation and long-term growth.
This reappointment signals strategically Marico's resolve towards leadership continuity and continued growth and market competitiveness.
Sources: Live Mint, Economic Times, Business Standard
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