The board of directors of Gillette India Ltd. has approved to appoint Anjuly Chib Duggal, an independent director of the company, as the chairman of the board. Duggal will take over the post from Sept. 29, according to an exchange filing on Wednesday.
Also, Independent Directors Gurcharan Das, Chittaranjan Dua, and Anil Kumar Gupta will retire from the board after the completion of their second tenure on Sept. 28.
Earlier, the company announced that Procter & Gamble Bangladesh had terminated its distribution pact with the company with effect from Dec. 31, 2024.
In financial year 2024, the distribution pact accounted for around 2% of the company's total net sales.
Shares of Gillette India closed 2.97% lower at Rs 8,536.20 apiece, compared to a 0.25% rise in the benchmark NSE Nifty. The stock has risen 42.27% in the last 12 months and 32.44% year-to-date. The relative strength index was 42.27.
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