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GCPL board inducts 4 independent
Our Marketing Bureau
Mumbai, April 2: Godrej Consumer Products Ltd (GCPL), which started operations effective April 1, 2001, after the demerger of Godrej Soaps, has inducted on its board four independent directors.The newly-formed GCPL board is going to be a professionally-managed company. The chairman and managing director Adi B Godrej is also the chairman of the Rs 3,400 crore Godrej Group. Mr Godrej is supported by executive director and president Hoshi Press.Professor, Kellog Graduate School of Management, Northwestern University, Dr Bala V Balachandran, renowned marketing consultant Rama Bijapurkar, Mahindra & Mahindra executive director (finance & corporate affairs) Bharat Doshi and former McKinsey & Co director Anupam Puri will join Adi Godrej, Jamshyd Godrej, Nadir Godrej and Hoshi Press on the board of GCPL.According to Mr Adi Godrej: "GCPL is a high-growth, highly profitable FMCG operation.It will own all its brands, among which are the high profile Cinthol, Fair Glow, Ezee and Godrej Hair Dye. GCPL is expected to have ROCE and RONW ratios comparable with the best FMCG companies in India. I expect considerable shareholder value to be added through the creation of GCPL."GCPL - the largest marketer of hair colourants and liquid detergents and the third largest marketer of toilet soaps - will focus on four key markets of personal care, hair care, fabric care and household care. GCPL has adopted the CII Model for Corporate Governance to ensure that its strategic plans are consistent with the welfare of all stakeholders and with the highest standards of corporate behaviour.With a turnover of Rs 470 crore, the company employs 950 people and has two manufacturing facilities at Malanpur in Madhya Pradesh and Silvassa. GCPL has an identical shareholding structure as its parent Godrej Soaps. The current subscribed and paid-up capital of Godrej Soaps is Rs 59.82 crore, divided into 5,98,28,780 equity shares of Rs 10 each. Upon the scheme becoming effective, the capital of Godrej Soaps will be reorganised and it will be Rs 35.89 crore divided into 5,98,28,780 shares of Rs 6 each. Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
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