Parag Milk Foods climbs 4% on appointment of new CEO

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.

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.