Colgate Palmolive (India) Ltd said in a BSE filing: “The Board of Directors of the company, at their meeting held on October 06, 2016, has considered the recommendation of the Nomination & Remuneration Committee and approved the appointment of M S Jacob as the Chief Financial Officer (CFO) of the company w.e.f. October 7, 2016 in place of Godfrey Nthunzi.”
“Nthunzi who is the current Whole-time Director & CFO has been elevated and shall consequently move to other Colgate subsidiary. Accordingly, Nthunzi has resigned as the CFO of the company and shall continue to be as the whole-time Director on the board of the company,” it added.
In a separate filing, Colgate Palmolive announced that it has signed the Memorandum of Understanding for sale/transfer of Industrial Land & Building located at Waluj, MIDC, Aurangabad on ‘as is basis’ to undisclosed buyer for an undisclosed sum.
According to the statement: “The company has signed the Memorandum of Understanding for sale / transfer of industrial land and building located at Waluj, MIDC, Aurangabad on ‘as is basis’. The said Industrial land and building was earlier used as the toothbrush manufacturing facility which was closed in May 2015.”
The company has identified a suitable buyer, to whom the said property will be sold/transferred on a mutually acceptable terms and conditions, it added.