Godrej Consumer Products on Tuesday said its MD & CEO Sudhir Sitapati has resigned from the company with immediate effect, appointing CFO Aasif Malbari as his successor.
The leadership transition has surprised analysts since Sitapati had received shareholder approval for his reappointment as MD and CEO for a second term of five years on Friday (August 7) at the company’s 26th Annual General Meeting. The GCPL board had approved Sitapati’s reappointment on May 6, with his second term set to commence from October 18. He had first joined GCPL on October 18, 2021 from Hindustan Unilever, where he had spent 22 years.
Shriram Subramanian, founder and MD of proxy advisory firm InGovern, said the resignation of a CEO after reappointment is a rare event in India. This is the second instance in 10 months that a high-profile FMCG CEO has resigned with immediate effect. On November 10, 2025, Varun Berry, who was Britannia’s Executive Vice-Chairman, MD & CEO had stepped down from his position. He was replaced by Rakshit Hargave, who took charge on December 15 as CEO and MD of the company.
Abrupt Board Action Reverses
The sequence of events at GCPL, however, unfolded quickly, according to company sources. Both Sitapati and chief financial officer Aasif Malbari wrote to Nisaba Godrej, executive chairperson of GCPL, on Monday, resigning from their respective positions. Malbari’s name was proposed for elevation as MD & CEO of the company. In a 10-minute board meeting on Tuesday, Malbari’s candidature was approved by GCPL’s 10-member board. He will take charge as MD and CEO from Wednesday for a five-year term, subject to shareholder approval, the company said. Vishal Kedia has been appointed interim CFO, in addition to his existing responsibilities in strategy and investor relations.
On an analysts’ call on Tuesday, Godrej said she expected the leadership team to “step up”, declining to specify the reasons for Sitapati’s sudden exit. GCPL will also appoint an India CEO in the coming months, who will report to Malbari, Godrej said. Both internal and external candidates will be considered for the role, she said.
For GCPL, not just to Aasif, but to our overall leadership team, and to our 13,000 people, my request is: Let’s up the game,” she said. “What we want is a step up in execution, delivering results and where we need to beef up the talent layer, where we need to ask people to step up. We’ll be doing that,” Godrej told investors.
Sitapati’s Strategic Legacy
Over five years, GCPL’s revenue and net profit saw a compounded annual growth rate (CAGR) of 6.67% and 2.32% under Sitapati’s leadership, while the firm’s share price grew 6.18% in terms of CAGR.
“I feel that the task I had set for myself here is done and this is the right time to move on,” Sitapati said in his resignation letter. “On a monthly average, from 7 May 2021— the day my appointment was announced—through 9 August GCPL’s total shareholder return has been around 10%, compared with around 8% for the NIFTY FMCG index,” he said.
Last week, GCPL had reported an 11.5% year-on-year rise in consolidated net profit to Rs 505 crore for the quarter ended June 2026 (Q1FY26), below street estimates of Rs 537 crore for the period. The company’s consolidated revenue increased 18.3% year-on-year to Rs 4,225 crore in Q1, ahead of street estimates of Rs 4,162 crore for the quarter, as demand remained stable across urban and rural markets.
Operating profit, or earnings before interest, taxes, depreciation and amortization (Ebitda), increased 15.4% year-on-year to Rs 801 crore, ahead of street estimates of Rs 793 crore. Ebitda margin, however, narrowed marginally to 19% from 19.4% last year.
Sitapati’s tenure also saw GCPL expand through acquisitions. In April 2023, the company acquired Raymond Consumer Care for Rs 2,825 crore, adding brands including Park Avenue, KS, KamaSutra and Premium to its personal-care portfolio. In November 2025, it acquired digital-first men’s grooming brand Muuchstac from Trilogy Solutions for Rs 450 crore.