At their Board meeting Emami announced that its founders, RS Agarwal and RS Goenka, have expressed their desire to step down from their current executive positions while continuing on the Board. Accordingly, the Board unanimously decided to appoint RS Goenka as Non-Executive Chairman, while re-designating R S Agarwal as Chairman Emeritus, effective April 1.
Both the Founders will not accept any emoluments from the company for taking up their new positions. The decision comes in the wake of Board restructuring that was part of the succession planning of the FMCG business of the Group.
The Emami Board also acceded to Sushil K Goenka’s desire to step down from his current position as the Managing Director of Emami as part of the transition process and has re-appointed him as a Whole-Time Director of the Company, effective April 1, 2022.
Mohan Goenka and Harsha V Agarwal, Whole-Time Directors of Emami, have been serving the business for over two decades, spearheading multiple functions and growing the business successfully thereby gaining immense exposure to steer the organisation forward.
The Board, therefore, found them to be suitable candidates and re-designated Mohan Goenka and Harsha V Agarwal as Vice-Chairman -cum-Whole Time Director, and Vice-Chairman -cum-Managing Director, respectively, effective April 1, subject to shareholders’ approval.
Founders, RS Agarwal and RS Goenka said, “We are happy to announce the re-designation of Mohan Goenka and Harsha V Agarwal as Vice-Chairman -cum-Whole Time Director and Vice-Chairman -cum-Managing Director respectively. They have been in the forefront of running and growing the organisation for over two decades and their ascension today is the formal recognition of their contribution by our esteemed Board.”
Emami has been the fruit of our love and passion of creating an indigenous organisation with a difference. It has been our privilege serving the company and we are grateful to our Board for their continued guidance, our team members for their zeal and passion for Emami and helping build and grow the company that we all can be proud of. We also wish to thank all our stakeholders including customers, business partners, investors, shareholders and the community at large for their unstinted support and partnership over the years. It is only with such support and the strong trust and bond enjoyed between our two families that we could make the foundation of the company strong. We are confident that our next generation leaders would uphold the legacy and values of Emami going forward. We wish them the very best for the future,” they added.
Mohan Goenka, Vice-Chairman and Whole-Time Director – designate, Emami and Harsha V Agarwal, Vice-Chairman and Managing Director – designate, Emami said, “We wish to thank our Founders and the Board for reposing their faith in us to have given us the responsibility of leading and steering the Company forward. We both have been guided by our Founders’ vision and values and the strong bond of friendship that they shared. It is this strong bond and discipline coupled with a humble-yet-result-driven approach that have been inculcated in our system right from a very young age. We look forward to our leadership team’s continued support and guidance, sage counsel of our Founders and the Board, and the support of all our stakeholders, especially our team members in our endeavour to take Emami to greater heights with a strong sense of purpose and ambition.”