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.
February 3, 2022
Emami Ltd. has announced that its founders, Mr. R.S. Agarwal and Mr. R.S. Goenka have expressed their desire to step down from their executive roles appointing second-generation family members at the top as part of a succession exercise.
Accordingly, the Board unanimously decided to appoint Mr. R.S. Goenka as Non-Executive Chairman while re-designating Mr. R.S. Agarwal as Chairman Emeritus effective 1st April, 2022.
As per the report from a leading daily – the Emami Ltd. Board also acceded to Sushil K. Goenka’s desire to step down from his current position as the Managing Director of Emami Ltd. as part of the transition process and has re-appointed him as a Whole-Time Director of the Company effective 1st April, 2022.
Mr. Mohan Goenka and Mr. Harsha V. Agarwal, Whole-Time Directors of Emami Ltd., have been spearheading multiple functions and growing the business successfully thereby gaining immense exposure to steer the organisation forward. The Board, therefore, found them to be deserving candidates and re-designated Mr. Goenka and Mr. V. Agarwal and Whole-Time Directors as Vice Chairman-cum-Whole Time Director and Vice Chairman-cum-Managing Director respectively, effective April 1, 2022 to steer the organisation forward, subject to shareholders’ approval.
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Commenting on the announcement, Founders, R.S. Agarwal and R.S. 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 & growing the organisation for over two decades and their ascension today is the formal recognition of their contribution by our esteemed Board.”