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Dabur New U’s CEO quits. Joins Future Group?

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Peter Baker, CEO, New U, retail venture of FMCG major Dabur India , has quit the company, confirmed Dabur India spokesperson. Baker had joined Dabur from Lee Cooper group over a year ago where he served as group head.

According to company sources, in the absence of a CEO, Health & Beauty (H&B) stores’ management committee will manage the day-to-day operations of Dabur’s retail venture. While the sources denied to comment on the appointment of a new CEO, the company spokesperson remained tightlipped too.

Meanwhile Baker has been learnt to have taken up an assignment with Kishore Biyani promoted Future Group. “Baker would be joining the company’s health and wellness segment in a senior position and we would soon make an announcement in this regard,” according to sources in the Future Group.

The latest development came as a surprise to industry observers as Dabur India, quite recently, announced an investment Rs 1.4 million by 2010 for the H&B Stores with an intention to set up 350 retail stores across the country in the next five years.

—IndiaRetailing Bureau

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