Emami Limited, at a board meeting held on Thursday, announced that its founders,
R.S. Agarwal and
R.S. Goenka have expressed their desire to step down from their current executive positions while continuing on the Board.
Accordingly, the Board unanimously decided to appoint R.S. Goenka as Non-Executive Chairman while re-designating R.S. Agarwal as Chairman Emeritus effective 1st April, 2022.
Both the Founders will not accept any emoluments from the Company for taking up their new positions. The decision comes in the wake of Board restructuring that was part of the succession planning of the FMCG business of the Group.
The Emami Ltd Board also acceded to Sushil K. Goenka's desire to step down from his current position as the Managing Director of Emami Ltd as part of the transition process and has re-appointed him as a Whole-Time Director of the Company effective 1st April, 2022.
Mohan Goenka and Harsha V. Agarwal, Whole-Time Directors of Emami Ltd., have been spearheading multiple functions and growing the business successfully thereby gaining immense exposure to steer the organisation forward. The Board therefore found them to be deserving candidates and re-designated Mohan Goenka and
Harsha V. Agarwal and Whole-Time Directors as Vice Chairman-cum-Whole Time Director and Vice Chairman-cum-Managing Director respectively, effective April 1, 2022 to steer the organisation forward, subject to shareholders' approval.
Commenting on the announcement, Founders, R.S. Agarwal and R.S. Goenka said, "We are happy to announce the re-designation of Mohan Goenka and Harsha V. Agarwal as Vice Chairman-cum-Whole Time Director and Vice Chairman-cum-Managing Director respectively. They have been in the forefront of running & growing the organisation for over two decades and their ascension today is the formal recognition of their contribution by our esteemed Board."
SEE ALSO:
Chip spending increased by 25.2 per cent in 2021 amid global shortage: Gartner
Facebook blames prepaid tariff hike in India for slow user growth 
Next Story
I quit McKinsey after 1.5 years. I was making over $200k but my mental health was shattered.
Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
I tutor the children of some of Dubai's richest people. One of them paid me $3,000 to do his homework.
Why are so many elite coaches moving to Western countries?
Global GDP to face a 19% decline by 2050 due to climate change, study projects
5 things to keep in mind before taking a personal loan
Markets face heavy fluctuations; settle lower taking downtrend to 4th day
Move over Bollywood, audio shows are starting to enter the coveted ‘100 Crores Club’
