Procter & Gamble Hygiene & Health Care added 2.24% to Rs 16,160 after the company's board has approved the appointment of Kumar Venkatasubramanian as managing director (MD) for a period of 5 years with effect from 1 May 2024.
Kumar Venkatasubramanian will be taking over from L. V. Vaidyanathan who has tendered his resignation as managing director (MD) and from directorship of the company effective close of business hours on 30 April 2024. L. V. Vaidyanathan will be leaving the company to pursue other interests.Kumar Venkatasubramanian has an MBA from Indian Institute of Management, Calcutta and has completed his Bachelor of Engineering from National Institute of Technology, Durgapur. Venkatasubramanian started his career with P&G in India in 2000 as a new hire in the sales function from Indian Institute of Management, Calcutta, and worked in various sales leadership roles across India.
In his 23 and more years career, he has led complex categories across some of the worlds largest markets including India, Brazil, and Australia. In 2020, Kumar Venkatasubramanian was elevated to the role of CEO, P&G Australia and New Zealand where he has delivered record business performance through strong category growth. Over the years, he has led large and diverse teams, with extensive leadership experience to complement his strong business acumen.
Procter & Gamble Hygiene &Healthcare is engaged in manufacturing and selling of branded packaged fast moving consumer goods in the femcare and healthcare businesses.
The companys standalone net profit jumped 10.3% to Rs 228.90 crore in Q2 FY24 as compared with Rs 207.47 crore in Q2 FY23. Net sales fell marginally 0.3% YoY to Rs 1130.93 crore in Q2 FY24.
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