Marico appoints Saugata Gupta as MD
Consumer products company in the global beauty and wellness space, Marico Limited on Tuesday appointed Saugata Gupta as the new Managing Director and CEO, here.
The Board of Directors of Marico Limited on Tuesday approved the appointment of Saugata Gupta, CEO, Marico Limited as Managing Director and CEO.
Saugata Gupta will be inducted into the company's Board of Directors effective Apr 1.
Harsh Mariwala will continue as Chairman, Marico Limited.
Marico informed that the above changes are subject to approval by the shareholders at the ensuing Annual General Meeting (AGM) of the company.
Saugata Gupta joined Marico Limited in January 2004 as head of Marketing.
In the year 2007 he was elevated to become the CEO of the Company's India business.
In April 2013, Marico restructured its Consumer Product Business (CPB) in India and International Business Group (IBG) under Gupta's leadership as the CEO of Marico Limited, the unified FMCG business.
The restructuring was a proactive step to build on Marico's sustained value creation, by proactively re-organizing itself, taking into account the context of the increasing convergence of businesses in Consumer Products Business (CPB) in India and the International FMCG businesses (IBG).
In his new role as Managing Director & CEO, Gupta is tasked with accelerating the growth journey through innovation and building a future-ready organization with a value-added portfolio.
He will focus on sustaining Marico's leadership presence in India as well as building the company into an emerging market MNC in the hair nourishment and grooming segments.
Gupta will lead the Management team retaining its empowering culture for young leaders to nurture and grow.
As part of the new structure all business heads and group level functions will report to him.
Harsh Mariwala, Chairman, Marico Limited, said, "This announcement reflects the next phase of Marico's growth journey. Under Saugata Gupta's leadership, Marico has had a track record of sustainable profitable growth. Marico has had a 5 Yr. CAGR of 19% in topline and bottomline. I am confident that we will achieve new heights under the leadership of Saugata and his team."
Prior to joining Marico, Gupta was the Chief of Marketing and Group Sales at ICICI Prudential and was part of the start-up team that was instrumental in establishing ICICI Prudential as the largest private sector Insurance firm in the country.
He started his career with Cadbury's where he spent 9 years in various roles in Sales and Marketing in India and the United Kingdom.
His last role was Marketing Manager - Chocolates.
Gupta has 20 years of experience primarily in the FMCG sector. He has an engineering degree from IIT Kharagpur and is an alumnus from IIM Bangalore.
(Posted on 25-03-2014)