According to Dabur India, Mohit Malhotra has been appointed as the new chief executive officer of the company with effect from April 1, 2019. Malhotra who is currently the CEO of the company’s India business will be taking over responsibilities from the current CEO Sunil Duggal. Sunil Duggal as a CEO has served the company since 2002 and is currently the longest serving CEO in the fast moving consumer goods industry.
The chairman of Dabur India Ltd, Anand C Burman was recently quoted saying that, “The Board of Directors had undertaken a Succession Planning exercise to identify the successor to take over the responsibility from our existing Chief Operating Officer, Sunil Duggal, who has been the Dabur India Ltd CEO since 2002. Duggal was trusted with the responsibility to ensure a smooth transition and, as a result of this process, Mohit Malhotra was found to be the best-suited candidate to succeed Duggal.”
Also appointed as the Whole-Time Director of the Company with effect from January 31, 2019, Mohit Malhotra will be working as the CEO-Designate till March 31, 2019, under the guidance of Sunil Duggal. Duggal will be holding the position of CEO till the end of this financial year 2018-19.
The 49-year-old Mohit Malhotra is a Management Graduate from Pune University and holds Executive Masters in International Business from Indian Institute of Foreign Trade, New Delhi. Mohit initially joined Dabur as a Management Trainee in 1994 and was taking care of key assignments in Marketing and Sales, besides being CEO of Dabur International, based out of Dubai, before taking charge as the CEO of Dabur’s India Business in his current position.
According to him, modern trade is one of the most important fields, where a fierce battle for supremacy among brands in India is underway. “Acquiring shelf space at a larger length than just one’s market share is extremely important to grow a business and add to one’s visibility”, he told Business Standard in November. And achieving the feat would be one of his initial goals, he had added.
While Sunil Duggal will step down from the position of CEO that he is currently holding, he will continue to serve as a whole time director till May 15, 2019, and then switch to the role of a non-executive director till July 30, 2020.
The Delhi-based company now has a presence in approximately 120 countries with overseas business accounting for close to 30% of its revenue. It has been on a spree to acquire smaller businesses and strengthen its overseas business over the past few years.
It had expanded its international operations by acquiring two South African companies back in 2017. The deal announced to be at $ 3.8 million in cash at the time, was revised lower to $ 3.5 million a year later.