Cigarette maker Godfrey Phillips India appointed Sharad Aggarwal as its Chief Executive Officer. Taking over from Bhisham Wadhera, Sharad Aggarwal (50) will be reporting to Bina Modi who is Godfrey Phillips India’s President and Managing Director, the company said in a statement.
Bhisham Wadhera has been at the helm of the company since 2015 and demitted office on December 26, 2021. However, he will continue to guide the organisation as an advisor and mentor.
In a meeting on 16 September, 2021, the board had unanimously approved the appointment of Sharad Aggarwal, who was serving as the COO and Whole Time Director of Godfrey Phillips.
“Sharad has been with the organisation since 1994 and has exceptional credentials of delivering results. He has proven himself as an inspiring leader and led transformational changes in the organisation, and I firmly believe he is the right choice to unleash the potential of Godfrey Phillips to the fullest, create a sustainable business with sales and profit growth and value for all stakeholders,” Bina Modi said in a statement.
An alumnus of Harvard Business School and with a degree in Electronics from REC, Nagpur, and a Post Graduate Diploma in Business Management with Gold Medal from IMT, Ghaziabad, Sharad Aggarwal has, during his stint as the COO, ensured that the company invests in the best international technology, processes and certifications for its state-of-art manufacturing facilities across India.
Sharad said, “I thank the Board and Dr Modi for having vested this faith and confidence in me. With the support of my dynamic team, I am confident of fulfilling the expectations of leadership and the organisation. I also take this opportunity to thank Mr Wadhera for his contribution that has helped the company reach new heights. I certainly have big shoes to fill.”
Sharad Aggarwal is also an Executive Committee Member of FICCI, core member of PHD Environment Committee and serves as a Governing Council member of GMA, a body committed to local causes and development of Ghaziabad Industries and Institutions. And this will help the company work more closely in line with the principles of these associations/committees.
The flagship company of Modi Enterprises, Godfrey Phillips owns cigarette brands such as, Four Square, Red & White, and Cavanders. It also has an exclusive sourcing and supply agreement with Philip Morris International to manufacture and distribute the Marlboro brand in India. The company
The net profit of Godfrey Phillips India rose 1.47 per cent to Rs 104.94 crore on 9.20 per cent decline in net sales to Rs 631.89 crore in Q2 September 2021 over Q2 September 2020. the company had reported a revenue of Rs 2,925.74 crore for the year ended on March 31, 2021.