Godrej Consumer Products Limited (GCPL) announced changes to its leadership team, effective May 10, 2017 where Nisaba Godrej, currently the executive director of the company, will become the executive chairperson. Chairman Adi Godrej will assume the chairman emeritus position at GCPL while Vivek Gambhir will continue as managing director and CEO, the company said in a statement.
According to the company, Nisaba Godrej has been a key architect of GCPL’s strategy and transformation in the last decade. Over the last ten years, GCPL’s market capitalisation has increased twenty-fold from Rs 3,000 crore to Rs 60,000 crore. She has served on the GCPL board of directors since 2011. Nisaba Godrej holds a BSc degree from The Wharton School at the University of Pennsylvania and an MBA from Harvard Business School.
“It has been a privilege to serve as chairman during a period when we have delivered strong results and transformed the company. I am grateful to our board for their thoughtful and planned approach to executing our succession plan. 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,”said Adi Godrej.
“Over the last decade, I have worked closely with her and seen her deliver tremendous results. She is an inspiring leader who will always uphold our values. I will continue to serve the GCPL Board and contribute in whatever way I can to GCPL’s success and long term growthm,”he said further.
Nisaba Godrej’s previous assignments within the Godrej Group have included the successful turnaround of Godrej Agrovet and the creation of a Group strategy function to oversee the Group’s portfolio, said the statement.