Marico Re-appoints Saugata Gupta As MD & CEO For Two Years

“Board of Directors of the Company has at its meeting held today, based on recommendation of the Nomination and Remuneration Committee, approved re-appointment of Mr. Saugata Gupta (DIN: 05251806) as the Managing Director & Chief Executive Officer for a term of 2 (two) years w.e.f. April 1, 2024 to March 31, 2026, subject to approval of the shareholders," said Marico in its filing.

He joined Marico in 2004 as the Head of Marketing and was elevated to CEO of India business in 2007. In 2014, he took over as Managing Director of the company.

Outside Marico, Outside Marico, Mr. Gupta is on the Board of Ashok Leyland as Independent Director and is a member of Audit Committee, Nomination and Remuneration Committee and ESG Committee. He is also associated with Delhivery as an Independent Director and is the Chairman of Nomination and Remuneration Committee and Stakeholders’ Relationship Committee. 

The company has also appointed Rajan Bharti Mittal  as an Additional Director in the capacity of Independent Director for a term of five years with effect from 1 July, 2023 to 30 June, 2028.

For Marico Ltd, the March quarterly update for Q4 said that volumes grew in mid-single digit. Growth in Q2 and Q3 was at 3-4%.

Marico reported a 5 per cent rise in its net profit to ₹333 crore during the third quarter ended December 2022. This is against a net profit of ₹317 crore in the year ago period. The revenue from operations rose by 2.6 per cent to ₹2,470 crore as against ₹2,407 crore in the corresponding quarter last fiscal.

The shares of Marico were trading 0.12 per cent down at ₹496.70 on BSE. The company is all set to announced its March quarter results on 5 May.