Procter and Gamble Health Ltd. named Lokesh Chandak as its new finance head after the incumbent, Amit Gupta, resigned.
Gupta has quit as executive director and chief financial officer and the resignation will be effective at the end of business hours on March 31, the Indian pharmaceutical unit of Proctor & Gamble Co. said in an exchange filing. Chandak will take over as additional ED and CFO from April 1, subject to shareholder approval.
His appointment as director is subject to the allotment of a director identification number by the Ministry of Corporate Affairs.
Chandak, a chartered accountant and a company secretary, has an experience of over 15 years in finance and accounting across multiple geographies, the statement said. He has been with P&G for 13 years across three geographies.
Shares of the company rose as much as 0.61% to Rs 4,881.5 apiece as of 12.30 p.m. on Friday. One analyst who tracks the company recommends a 'buy' on the stock, according to Bloomberg data. The 12-month price target implies an upside of 14.3%.
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