Godrej Consumer names Aasif Malbari CEO after Sudhir Sitapati’s sudden exit

The Story in Brief

Godrej Consumer Products Ltd (GCPL) has appointed Aasif Malbari as managing director and CEO, replacing Sudhir Sitapati with immediate effect. Malbari, previously global CFO and president of the Africa business, takes over after Sitapati resigned abruptly. The company also named Vishal Kedia as interim CFO. Livemint reports that the board was not informed of the exit plan when it approved Sitapati’s reappointment in May, and that shares fell 10.55% on the news. Nisaba Godrej, executive chairperson, said Malbari brings disciplined execution rigour to the company.

Sitapati, who had led GCPL for nearly five years, cited strong shareholder returns in his resignation letter, an unusual move hinting at discord over performance. Malbari, a chartered accountant with experience at Tata Motors and Hindustan Unilever, will focus on improving core business performance and accelerating growth in new categories.