39-year-old Nisaba Godrej will take over from her father Adi Godrej as executive chairman of Godrej Consumer Products. Analysts tracking the business say that the handover was expected and is part of Adi Godrej’s succession plan, as the scion turns 75 this year. Adi Godrej will remain chairman of the holding company, Godrej Industries.
Three month’s ago Nisaba’s brother Pirojsha was made executive chairman of Godrej Properties.
“I am grateful to our board for their thoughtful and planned approach to executing our succession plan,” Adi Godrej said in a statement on Tuesday.
Nisaba has an MBA from Harvard Business School and joined the company in 2007. Analysts say that GCPL’s rise has coincided with her involvement in the business. Since 2007, GCPL’s market capitalisation has increased from Rs 3,000 crore to Rs 60,000 crore, said the statement, announcing her new position.
She was instrumental in setting up GCPL’s M&A cell which has made a number of acquisitions across Africa, Asia and Latin America. She helped the company grow across hair care, soaps and household insecticides across the three continents.
Before the new appointment, she was in charge of strategy, human capital and innovation. She has launched products such as Good Knight Fast Card and Anti-Roach Gel. The company also invested in salon brand B-Blunt and launched a range of products under that brand name.
Under her guidance, the average age of senior leaders fell from 48-49 years of age to 45 years.
“Nisaba has been a key architect of GCPL’s strategy and transformation in the last decade. In 2007, she initiated and led Project Leapfrog, which created a playbook for GCPL to accelerate domestic organic growth through innovation and consolidation, and to become a more global company by investing in emerging markets outside of India,” GCPl said in a statement.
She will become the executive chairman on May 10. The company had a turnover of Rs 9,242 crore in FY 17. The company’s shares rose 9.74 per cent on the BSE on Tuesday.