Godrej Consumer Products Ltd. appointed Aasif Malbari as managing director (MD) and chief executive officer (CEO) effective from Aug. 12, according to an exchange filing from the company on Tuesday.
Sudhir Sitapati resigned from the company from Tueday onwards, the filing stated. The firm appointed Vishal Kedia as interim CEO.
"Leading GCPL has been one of the most rewarding experiences of my career. I thank the Board, Godrej family and extraordinary team for their trust and partnership," Sitapati said in his resignation letter.
The senior exec stated that total shareholder return has gone from 8% to 10% since the day of his appointment on May 7, 2021 to Aug. 9, 2026.
"On a monthly average, from May 7, 2021 — the day my appointment was announced — through Aug 9th, GCPL's total shareholder return has been ~10%, compared with ~8% for the NIFTY FMCG index. Today, 97% of analysts rate the stock a Buy or Hold, among the highest ratings in the sector," Sitapati said.
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He further stated that the firm's growth has been "accelerating" and that he had achieved what he had set out to do and saw it as the right time to move on.
"As India emerges from a difficult period for FMCG, GCPL's growth has been accelerating, with Q1 2027 revenue growth of 19%, driven by 9% underlying volume growth — both multi-quarter highs. I feel that the task I had set for myself here is done and this is the right time to move on. I am tendering my resignation with effect from Aug 11. I would be happy to fully support my successor through this transition period," Sitapati added.
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