Amit Burman, chairman of FMCG company Dabur has put in his papers. The company, on Friday announced that the board has accepted Burman’s resignation as the chairman of the board of directors with effect from the close of working hours of August 10, 2022. Burman, however, will continue to serve as the non-executive director of the company.
In 1999, Amit Burman was appointed as the CEO of Dabur Foods as the company first forayed into the processed foods department. However, Dabur Foods merged with Dabur India Ltd in 2007, at which time he took charge of the company as the vice chairman of Dabur India Ltd. In 2019, he was elevated to the position of chairman of Dabur India Ltd.
Furthermore, the company announced that the board of directors have accepted the appointment of Mohit Burman as the non-executive chairman of the board of directors of the company for a period of five years. The appointment came into effect on August 11, 2022. Prior to the appointment, Mohit Burman was serving as the non-executive vice chairman of the company.
The board has also appointed Saket Burman as the non-executive vice-chairman of the board of directors of the company for a period of five years. The appointment came into effect on August 11, 2022.
As per Bombay Stock Exchange (BSE), Dabur India had posted a flat year-on-year growth in consolidated net profit to Rs 440 crore for the quarter ended June 30, 2022. The company’s effective tax rate for consolidated business recorded a decline from 22.8% to 21.9%, but raw material inflation continued to raise costs and impacted margins.
However, Q1 FY23 posted a 8.1% y-o-y rise in consolidated revenue from operations to Rs 2,822 crore with an underlying volume growth of 5% in the India FMCG business. The June quarter revenue growth, which stood at 10.3% on a constant currency basis, comes on a high base of 32% in the same quarter last year.
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