The Dabur India Ltd board has approved the appointment of Mohit Malhotra as the company’s New Chief Executive Officer with effect from April 1, 2019. Malhotra, who is currently the CEO of the company’s India business, will succeed the current CEO Sunil Duggal.
The change of guard at the top comes after almost 17 years of Duggal being the CEO of the homegrown FMCG major and 24 years of service. In addition, Malhotra has also been appointed as the whole time director of the company with effect from January 31.
Announcing the appointment, Dabur India Ltd Chairman Dr. Anand C Burman stated, “During the last few years, the Board of Directors of the Company had undertaken a Succession Planning exercise to identify the successor to take over the responsibility from Mr. Sunil Duggal, who has been the Dabur India Ltd CEO since 2002. Mr. Duggal was entrusted with the responsibility of ensuring a smooth transition. As a result of this process, Mr. Mohit Malhotra was found to be suitable as a successor to Mr. Duggal. Therefore, on the recommendation of the Nomination and Remuneration Committee, the Board today approved the appointment of Mr. Malhotra as the new Chief Executive Officer of Dabur India Ltd.”
Meanwhile, Malhotra will work as CEO-Designate till March 31, 2019, under the guidance of Duggal. Consequently, Duggal will hold the position of CEO till the end of FY 2018-19, and will remain a whole-time Director till May 15, 2019. He will then continue as a Non-Executive Director till July 30, 2020.
An alumnus of Pune University and an MBA in International Business from Indian Institute of Foreign Trade, New Delhi, Malhotra joined Dabur as a Management Trainee in 1994 and handled key assignments in Marketing and Sales, besides being CEO of Dabur International, before taking charge as the CEO-India Business in his current position.
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