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Godrej Consumer Products Ltd (GCPL) today announced a leadership succession plan under which incumbent Managing Director A Mahendran will retire next year after 18 years of association and will be replaced by Vivek Gambhir.
"The board of directors of GCPL has identified Vivek Gambhir, Chief Strategy Officer, Godrej Industries and its associate companies as the successor of A Mahendran...," the company said in a filing to BSE.
Mahendran, whose term expires on June 30, 2013, will continue to be on the board of GCPL, it added.
The company said he has cited his willingness to devote time on family business for not seeking a new term.
Commenting on the development, GCPL Chairman Adi Godrej said: "Given Mahendran's desire to step back from the MD's role upon the conclusion of his current term, we have put in a robust plan in place to ensure a smooth succession."
Mahendran has played a key role in the growth of GCPL internationally and also the successful merger of erstwhile Godrej Sara Lee with the company, he added.
On his plans to retire, Mahendran said: "We have a strong management team in place that is well equipped to capitalise on the great opportunities that lie ahead and... to take the company forward." Gambhir had joined Godrej group in 2009. He has been responsible for enhancing the strategic capabilities within the group companies, leading mergers and acquisitions and driving special projects, among others, the company said.
Prior to joining the Godrej group, he was a partner at business consulting firm Bain & Co and worked at Boston, Singapore and India offices.