- Whirlpool of India Managing Director Sunil D’Souza has resigned from the company and will be replaced by Vishal Bhola, said consumer electronics manufacturer on Monday.
- Recently, Whirlpool reported a rise in profit before tax (PBT) of Rs 120.4 crore for the July-September quarter was stated to be 18% year-on-year (YoY).
The company’s operating revenue rose from Rs 1,811.5 crore to Rs 1,393.5 by 18 percent YOY.
Whirlpool India’s Managing Director Sunil D’Souza has resigned from the company and will be replaced by Vishal Bhola, said consumer electronics manufacturer on Monday. At a meeting on Monday, the company’s board accepted the “resignation of Sunil D’Souza, the company’s managing director who decided to pursue interests outside the company,” said Whirlpool of India in a regulatory filing.
The resignation of D’Souza will take effect from April 3, 2020, he said. For the past four and a half years, D’Souza has led the organization.
“Furthermore, the board of directors wishes to notify Mr. Vishal Bhola that he will join the company effective 1 January 2020 and will succeed Sunil D’Souza as the company’s managing director,” he said, adding that his appointment will be subject to the completion of the requisite regulatory formalities and approvals.
Bhola has more than 20 years of consumer goods industry experience. He previously held the position of Unilever’s Global Vice President, Water.
Starting from famed Delhi College of engineering, Bhola went on to the Indian Institute of Management Bangalore and joined Unilever India Soon. He stayed 23 Years in Unilever and is set to join Whirlpool from next year.
On the other hand, Sunil D’Souza joined Whirlpool in 2015 from Pepsico with tonnes of experience in field sales and marketing.
Recently, Whirlpool reported a rise in profit before tax (PBT) of Rs 120.4 crore for the July-September quarter was stated to be 18% year-on-year (YoY).
The company’s operating revenue rose from Rs 1,811.5 crore to Rs 1,393.5 by 18 percent YOY. Because of lower energy prices, its margins increased.
Whirlpool chairman Arvind Uppal said consumer demand remained weak but corporate tax reduction strengthened the firm’s bottom line.
Shares of Whirlpool India fell 5 percent after its India Managing Director Sunil D’Souza resigned from the company. Whirlpool of India is a home appliance manufacturer. The firm is mainly engaged in the manufacture and selling of refrigerators, washing machines, air conditioners, microwave ovens, and small appliances.
It will interesting to see how Vishal Bhola will use his years of experience to help Whirlpool gain more market in India.
