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Last Updated : Jul 03, 2019 03:30 PM IST | Source: Moneycontrol.com

Parag Milk Foods climbs 4% on appointment of new CEO

His appointment will be effective from July 4, 2019 and he will be reporting to the Chairman and the Board of Directors

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Shares of dairy FMCG company Parag Milk Foods gained nearly 4 percent intraday on July 3 after the company appointed new Chief Executive Officer.

The stock has rallied 11 percent in the last 15 sessions. It was quoting at Rs 270, up Rs 9.85, or 3.79 percent on the BSE at 1512 hours IST.

The company "...announced the appointment of Venkat Shankar as the company's Chief Executive Officer. His appointment will be effective from July 4, 2019 and he will be reporting to the Chairman and the Board of Directors," the company said in its BSE filing.

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Venkat Shankar is a seasoned FMCG professional with over three decades of experience in dairy, FMCG, private equity, media and advertising roles. Prior to joining Parag, he was the VP & Head of the dairy business at Britannia Industries Ltd.

In addition, the company also approved Employees' Stock Option Scheme 2019' for issuance of a maximum of 10,00,000 Options of face value Rs 10 each.

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First Published on Jul 3, 2019 03:30 pm
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