FMCG major Marico on Friday announced that it has reappointed 8 Gupta as Managing Director and Chief Executive Officer for a period of two years from April 1, 2024 to March 31, 2026.
“The Board of Directors of the Company at its meeting held today, based on the recommendation of the Nomination and Remuneration Committee, has approved the reappointment of Shri Saugata Gupta (DIN: 05251806) as Managing Director and Chief Executive Officer for one term. 2 (ii) from the 1st day of April, 2024 to the 31st day of March, 2026, subject to the approval of the shareholders,” the said Marico in its filing.
He joined Marico in 2004 as Head of Marketing and was promoted to CEO of India business in 2007. In 2014, he took over as the Managing Director of the company.
Outside Marico Outside Marico, Mr. Gupta is on the Board of Ashok Leyland as an Independent Director and is a member of the Audit Committee, Nomination and Remuneration Committee and ESG Committee. He is also associated with Delhivery as an Independent Director and is the Chairman of the Nomination and Remuneration Committee and the Stakeholders’ Relationship Committee.
The company has also appointed Rajan Bharti Mittal as additional director as independent director for a period of five years from July 1, 2023 to June 30, 2028.
For Marico Limited March Quarterly Update Said volume for Q4 grew mid-single digits. Growth in Q2 and Q3 was 3-4%.
Marico’s net profit increased by 5 percent 333 crore during the third quarter ending December 2022. it is against net profit 317 crore in the year-ago period. Revenue from operations increased by 2.6 percent 2,470 crore as against 2,407 crore in the corresponding quarter of the previous financial year.
Marico’s stock was trading down by 0.12 per cent. 496.70 on BSE. The company is all set to announce its March quarter results on May 5.
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