Godrej Consumer Products slumped 4.53% to Rs 629.50 after the FMCG major on Tuesday said its managing director and CEO Vivek Gambhir has resigned citing personal reasons.
Gambhir will step down from the position on 30 June. Nisaba Godrej, currently the executive chairperson of GCPL, will assume the charge of MD and CEO of the company with effect from 1 July 2020, according to a company statement. Gambhir, who had joined Godrej Group in August 2009, was elevated as the MD and CEO of the company in July 2013.
Godrej Consumer Products is an Indian consumer goods company. The company's products include soap, hair colourants, toiletries and liquid detergents.
On a consolidated basis, the company reported a 75.42% drop in net profit to Rs 229.90 crore on a 12.2% fall in net sales to Rs 2132.69 crore in Q4 March 2020 over Q4 March 2019.
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