Procter & Gamble (P&G) Health rose 1.62% to Rs 4,904 after the company's board appointed Lokesh Chandak as chief financial officer (CFO) of the company with effect from 1 April 2023.
Lokesh Chandak is also appointed as the additional (executive) director of the company by the board of directors effective from the same date as well.The pharma company said that Chandak's appointment as director is subject to allotment of director identification number (DIN) by the Ministry of Corporate Affairs.
Chandak will hold office as additional director up to the ensuing annual general meeting and his appointment as executive director is also subject to approval of the shareholders of the company.
Lokesh Chandak is a chartered accountant and a company secretary. He comes with an experience of over 15 years in finance and accounting across multiple geographies. He has spent the last 13 years with P&G across 3 geographies, multiple businesses and leading various projects having significant impact on business and controls.
In his last role, Chandak was director - commercial finance & stewardship, India consumer health & director - stewardship, personal health care (Asia, Middle East & Africa) of the company for three years.
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Meanwhile, the company said that Amit Gupta has tendered his resignation as CFO and executive director of the company effective close of business hours of 31 March 2023. He will be moving to a regional role within the Procter & Gamble Group.
Procter & Gamble Health is one of India's largest VMS companies manufacturing and marketing vitamins, minerals, and supplements products, including Neurobion, Livogen, SevenSeas, Evion, Polybion and Nasivion.
The company reported 71% jump in net profit to Rs 76.8 crore on 11% rise in net sales to Rs 304.7 crore in Q3 FY23 over Q3 FY22.
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