1. Colgate-Palmolive India appoints M S Jacob as CFO

Colgate-Palmolive India appoints M S Jacob as CFO

FMCG major Colgate-Palmolive India announced the appointment of M S Jacob as its Chief Financial Officer with effect from October 7.

By: | New Delhi | Published: October 6, 2016 6:13 PM
COLGATE PALMOLIVE, GROWTH, INDUSTRY NEWS, COMPANY NEWS The company has identified a suitable buyer, to whom the said property will be sold/transferred on a mutually acceptable terms and conditions, it added.

FMCG major Colgate-Palmolive India today announced the appointment of M S Jacob as its Chief Financial Officer with effect from October 7.

“The Board of Directors of the company, at their meeting held on October 06, 2016, has considered the recommendation of the Nomination & Remuneration Committee and approved the appointment of M S Jacob as the Chief Financial Officer (CFO) of the company w.e.f. October 7, 2016 in place of Godfrey Nthunzi,” Colgate Palmolive (India) Ltd said in a BSE filing.

It further said: “Nthunzi who is the current Whole-time Director & CFO has been elevated and shall consequently move to other Colgate subsidiary. Accordingly, Nthunzi has resigned as the CFO of the company and shall continue to be as the whole-time Director on the board of the company”.

In a separate filing, Colgate Palmolive said it has signed the Memorandum of Understanding for sale/transfer of Industrial Land & Building located at Waluj, MIDC, Aurangabad on ‘as is basis’ to undisclosed buyer for an undisclosed sum.

“The company has signed the Memorandum of Understanding for sale / transfer of industrial land & building located at Waluj, MIDC, Aurangabad on ‘as is basis’. The said Industrial land & building was earlier used as the toothbrush manufacturing facility which was closed in May 2015,” the company said.

The company has identified a suitable buyer, to whom the said property will be sold/transferred on a mutually acceptable terms and conditions, it added.

Shares of Colgate Palmolive closed at Rs 976.90, down 0.42 per cent, from previous close on the BSE.

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