FMCG giant Colgate-Palmolive has appointed Prabha Narasimhan, a former Hindustan Unilever (HUL) executive as the new CEO and MD, the company notified in a regulatory filing on Thursday.
The development comes as the company’s existing CEO and MD Ram Raghavan will be taking over as the president of the parent company. Raghavan will be taking over the role effective April 16, 2022.
“This is to inform that Nomination & Remuneration Committee (“NRC”) of the Board of Directors of the Company, at its meeting held today, noted that effective April 16, 2022, Mr. Ram Raghavan, Managing Director & CEO of the Company has been promoted to President, Enterprise Oral Care, for Colgate Palmolive Company, the parent Company of Colgate-Palmolive (India) Limited and will be based out of its headquarter at New York. Consequently, Mr. Raghavan has informed the Company of his decision to resign from the office of Managing Director and CEO of the Company with effect from April 15, 2022,” the company said.
“The NRC has further identified Ms. Prabha Narasimhan as Managing Director and Chief Executive Officer of Colgate-Palmolive (India) Limited and recommended her name to the Board of Directors for her appointment as such effective from September 1, 2022,” it added.
HUL had also made key changes within its management. On Wednesday, the company appointed Madhusudhan Rao as Executive Director, Beauty & Wellbeing and Personal Care, while Deepak Subramanian has been named as Executive Director, Home Care, as Prabha Narasimhan leaves the company to join Colgate-Palmolive. Earlier in February, the company appointed Nitin Paranjpe as the company's Non-Executive Chairman with effect from March 31, 2022.