Gillette India to retain identity, adopt P&G norms

The board of directors of Gillette India, which met on January 15, 2006, has decided that while the company will continue as a separate legal entity, it will, as part of US-based Procter & Gamble Company, leverage synergies arising from its global acquisition.

According to a release issued by Gillette India to the BSE today, the areas of synergy will cover access to a more efficient distribution set up, relocating to world-class office facilities in Mumbai, and operating under the proven structure of  P&G's GBU (Global Business Unit)-MDO (Market Development Organization)-GBS (Global Business Services) structure.

"As a result of the new structure, the company will relocate some employees across functions to Singapore, P&G's regional head quarters," the release added.

Effective July 1, 2006, the company will relocate its headquarters from Gurgaon to P&G Plaza in Mumbai, the release added.

"In order to synchronise the fiscal cycle, it has been decided to adopt a uniform accounting year with that of P&G. Accordingly, the company shall be following the accounting year July -June, and for this purpose will extend its accounting year for 2006-07 from Jan 2006 to June 2007," the release added.