Butterfly Gandhimathi MD R Sriram Resigns

Butterfly Gandhimathi Appliances, maker of kitchen and small domestic appliances, on Saturday said its Managing Director Rangarajan Sriram has resigned. His resignation is effective from June 14.

The company has appointed Swetha Sagar as Manager and Chief Business Officer. Sagar, in her new role, would continue to lead the Butterfly business, said a company statement. Her appointment is effective from June 15, 2024.

She has held leadership positions at companies including Versuni India (previously Philips Domestic Appliances), Hindustan Coca-Cola, and Hutchinson Essar.

Crompton Greaves Consumer Electricals Ltd. owns 75% stake in Butterfly.

Sriram has been associated with Crompton since 2012 and led Butterfly since its acquisition in March 2022. He continues to head the Kitchen Appliances division of CGCEL.

In October 2023, shareholders of Butterfly rejected the scheme of amalgamation with CGCEL. Following this, both companies continued to operate as separate entities.