Emami Ltd.'s founders, RS Agarwal and RS Goenka, have decided to step down from their executive roles, but will continue on the board.
While RS Agarwal will become the chairman emeritus, RS Goenka will be the non-executive chairman from April 1, 2022, the maker of Boroplus cream and Navratna hair said in an exchange filing.
The board, it said, has approved the appointment of RS Goenka's eldest son Mohan Goenka as the vice-chairman and whole-time director, while Harsha V Agarwal has been appointed as the vice chairman-cum-managing director.
Harsha Agarwal, the younger son of RS Agarwal, will succeed Sushil Kumar Goenka, who has also decided to step down from his current position as the managing director as part of the transition process.
The decision comes in the wake of a board restructuring that was a part of the succession planning of Emami Group. Both Mohan Goenka and Harsha Agarwal, the company said, have been in the business for over two decades, spearheading multiple functions and growing the business. “The board therefore found them to be deserving candidates, subject to shareholders' approval.”
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