Vivek Gambhir to replace Mahendran as GCPL MD next yr

Moneycontrol Bureau

Godrej Consumer Products on Monday named Vivek Gambhir, currently the chief strategy officer of Godrej Industries and associated companies, as the successor to A Mahendran, who will retire as managing director on June 30, 2013.

Mahendran, who has been with Godrej Group for the past 18 years, wanted to step down as MD once his current term expires to concentrate on his family businesses, the company said, adding he would continue as a board member post his retirement.

As the MD, Mahendran successfully guided Godrej Consumer through the merger with Godrej Sara Lee and its international strategy, Adi Godrej, Chairman said.

Gambhir, who joined Godrej Group in 2009 from Bain & Co has been key architect of Godrej Consumer's 3x3 growth strategy and played a key role in the overall transformation of the company in the last few years, he added.

In recent years, Godrej Consumer has spread its wings overseas, acquiring companies in Indonesia, Africa, Chile and Argentina. Under the 3x3 strategy, focus has been on growing in three continents -- Asia, Africa and Latin America and three categories -- home care, hair care and personal wash.   

Gambhir and Mahendran have worked closely over the past three years and will further work together over the next 8 months to ensure a smooth transition of responsibilities, the company said.

Analysts have said that the company's acquisitions in the last few years will help it drive growth going ahead and also help it step up product innovations and new launches.

Godrej Consumer shares were down 5 percent at Rs 688 on NSE in morning trade. The company had on Saturday reported a second quarter net profit growth of 25 percent, which was lower than what some analysts had expected.