First Time Godrej Family Member Heads GCPL

Nisaba Godrej, currently the executive chairperson of Godrej Consumer Products Limited (GCPL), will take over the role of Managing Director and Chief Executive Officer of the company with effect from July 1, 2020.  Her appointment follows the resignation of Vivek Gambhir. Gambhir has cited "personal reasons" for his resignation. This is the first time since the formation of GCPL that the post of MD & CEO will be held by a member of the promoter family. Industry analysts termed the move as “sentimentally negative” due to investor concerns about a professional MD being replaced by a promoter.