Amul Federation's managing director RS Sodhi, who has been leading the dairy giant since 2010, stepped down on January 9 as the board decided to end his tenure with "immediate effect". He has been replaced for an interim period by Jayan Mehta, Amul's incumbent chief operating officer.
The decision to replace Sodhi was taken at the board meeting of Gujarat Cooperative Milk Marketing Federation (GCMMF), the farmers' cooperative that operates the Amul brand.
"As per the resolution no.2 of the board meeting, it was proposed to end your service as the federation's MD with immediate effect. Thus, you are hereby directed to relinquish your charge as MD with immediate effect and hand it over to federation COO, Jayenbhai Mehta," news agency PTI quoted a communication sent by the board to Sodhi as stating.
The communication was signed by the federation's chairman Shamalbhai Patel and vice chairman Valamjibhai Humbal.
Also Read | Why Amul should become public
Sodhi, while commenting on the board's decision, said he was "very happy", and refuted reports that claimed that he was "sacked".
"My term as MD ended two years back and I was on extension. I had requested the board to relieve me from this responsibility. The board had told me to wait for some time saying they will relieve me once they find a suitable replacement" Sodhi told reporters.
"When I again requested the GCMMF board to relieve me, they finally accepted my request and relieved me today. It was my own decision to step down and I am very happy today," he said.
Mehta, his interim successor, is associated with Amul for the past 32 years. Currently, he is the federation's CEO, and had earlier served as its brand manager, group product manager and general manager in marketing function.
Sodhi, the outgoing MD, had first joined Amul in 1982 as senior sales officer. From 2000-2004, he served as its general manager (marketing), and in June 2010, he was elevated as the MD. In 2021, his tenure as the MD was extended by another two years.
In July 2022, Sodhi was elected as the president of Indian Dairy Association, an apex body of the country's dairy industry. While speaking at the International Dairy Federation World Dairy Summit in September, Sodhi claimed that India's share in global production is estimated to nearly double to 45 percent in the next 25 years from 23 per cent now.
With PTI inputs
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
