Detergent and liquid blue maker Jyothy Laboratories has appointed ex-Reckitt India managing director S Raghunandan as its chief executive officer and whole-time director. He takes over from on Wednesday, ending Jyothy’s year-long search for a CEO.
An alumnus of IIM Calcutta and BITS Pilani, Raghunandan had only a three-week stint at Reckitt earlier this year after joining the company following the acquisition of Paras Pharmaceuticals by the latter in December 2010.
His sudden departure from Reckitt citing personal and health reasons had surprised many. At Jyothy, Raghunandan says, his task would be to to ensure that full integration of the Mumbai-based firm with Henkel happens in due course. While Jyothy's joint managing director Ulhas Kamath did begin the process of integration a year ago, driving synergies and cutting costs, Raghunandan says there is room for more. Chief on his agenda, he said, was to drive the merger of Jyothy and Henkel. "That would be key," he says. "For the two to work as one organisation with one focus."
The Rs 600-crore Henkel acquisition done in 2011 effectively put Jyothy, the maker of Ujala Washing Powder and Ujala Blue, amongst the top five fast moving consumer goods (FMCG) companies in the country with a combined turnover of Rs 1,300 crore having a presence in categories such as fabric care, surface cleaners, personal care, oral care and household insecticides.
Jyothy Laboratories Ltd said its net profit rose by 21.83 per cent to Rs 27.9 crore for the fourth quarter ended March 31.