Godrej Consumer Products Limited (GCPL), the flagship company of the Godrej Group, announced on Tuesday that Nisaba Godrej, daughter of Chairman Adi Godrej, will be the chairperson of the company.
The 39-year-old is currently one of the Executive Directors of the Mumbai-based company. Adi Godrej will now be the Chairman Emeritus of the company. Vivek Gambhir will continue as Managing Director and CEO of the company.
The changes will be effective from May 10, 2017.
The company announced the changes in a regulatory filing to the Bombay Stock Exchange (BSE).
The filing said Nisaba has been keenly associated with the company's growth over the past few years. "Under Nisaba's leadership, GCPL has developed a very strong, engaged and ambitious team, and consistently ranked as a great place to work. She has also institutionalised design driven thinking and directly leads product development. She has served on the GCPL Board of Directors since 2011."
Nisaba said she was grateful to the board of directors of GCPL for having faith in her. "I want to thank the Board for their confidence in me. I look forward to the continued guidance of the Chairman Emeritus to our Board, Vivek and me, as we drive GCPL forward with deep ambition, hard work and a strong sense of purpose," the filing quoted her as saying.
Adi Godrej expressed satisfaction at the transition. "The foundations of GCPL are extremely strong. This is an opportune time to transition to a new Chairperson, who will lead the company in its next phase of growth. I feel very confident that Nisa will be an outstanding Executive Chairperson."
GCPL shares closed 9.74 per cent higher at INR 1929 apiece on the BSE on Tuesday.