Consumer goods industry veteran Sudhir Sitapati has quit as managing director (MD) and chief executive officer (CEO) of Godrej Consumer Products Ltd (GCPL), just days after the shareholders approved his stewardship of the company for five more years. In a statement to exchanges, GCPL also named global chief financial officer Aasif Malbari as new MD and CEO.
Both Sitapati and Malbari wrote to GCPL chairperson Nisaba Godrej a day earlier, putting in their respective resignations.
Sitapati referred to the company’s performance during his tenure in his letter, released by GCPL as part of its stock exchange filing. Malbari said he was resigning consequent to his proposed appointment as MD and CEO.
GCPL’s 10-member board convened on Tuesday over a 10-minute meeting to confirm the personnel changes, and informed the changes after market hours.
Malbari will serve as MD and CEO for a five-year term beginning 12 August 2026, while Vishal Kedia has been appointed interim CFO, in addition to his existing responsibilities in strategy and investor relations. Kedia will also be interim CFO while continuing to oversee strategy and investor relations.
“I feel that the task I had set for myself here is done and this is the right time to move on,” wrote Sitapati, who joined GCPL in 2021 after a 22-year stint with Unilever Plc.
Notably, the GCPL board had recommended Sitapati’s reappointment on 6 May, and shareholders approved it through an ordinary resolution at the company’s 26th annual general meeting on Friday.
Founder and managing director of corporate governance research and proxy advisory firm InGovern, Shriram Subramanian, said that the resignation of a CEO after reappointment is a rare event in India.
GCPL credited Malbari with turning around its Africa business, saying he had expanded the region’s higher-margin FMCG (fast-moving consumer goods) portfolio, led by the launch of its air care category, while strengthening the legacy hair fashion business. Malbari had joined GCPL three years ago after stints at Hindustan Unilever Ltd and Tata Motors Ltd.
“The business has rapidly grown its margin-accretive FMCG portfolio, headlined by the highly successful launch of our air care category, while strengthening the legacy hair fashion business,” the company said in its statement.
The Africa business’s Ebitda margin has risen from 9% in fiscal year 2024 (FY24) to about 15% in FY26, according to the company.
Kedia has been with GCPL since 2016, leading global strategy and investor relations. Before joining the Godrej Group, he worked at The Boston Consulting Group.
Leadership reset
The leadership change also comes days before a broader transition at the Godrej Group. Mint had earlier reported that Pirojsha Godrej will succeed Nadir Godrej as chairperson of the $20 billion Godrej Industries Group on 14 August, when Nadir Godrej steps down on turning 75.
When Sitapati took over as GCPL boss on 18 October 2021, his appointment initially drew a strong market response. GCPL’s shares rose more than 20% on 12 May 2021 after the company announced his appointment, when it also reported a 59% year-on-year increase in quarterly net profit. Bloomberg reports indicated that GCPL was the biggest mover in Asian markets that day.
Just three days before submitting his resignation, at a post-earnings analyst call on 7 August, Sitapati had shared with analysts new product launches, how the pet care business was to expand beyond Tamil Nadu, and how he committed to raising volume growth in India by 100 bps a quarter and normalize operating margin by the second half of the current fiscal. A text message to Sitapati seeking comment went unanswered.
Sitapati’s legacy
His exit follows a quarter of steady operational growth. Last week, GCPL reported consolidated net profit of ₹505 crore for the April-June quarter (Q1FY27), up 12% from a year earlier. Revenue from operations rose 18% year-on-year to ₹4,225 crore.
Operating profit, or earnings before interest, taxes, depreciation and amortization (Ebitda), increased 16% to ₹801 crore from ₹693 crore a year earlier. Ebitda margin, however, narrowed marginally to 19% from 19.42%.
The quarter also saw pressure on gross margins.
Sitapati’s tenure also saw GCPL expand through acquisitions.
In April 2023, the company acquired Raymond Consumer Care for ₹2,825 crore, adding brands including Park Avenue, KS, KamaSutra and Premium to its personal-care portfolio. In November 2025, it acquired digital-first men’s grooming brand Muuchstac from Trilogy Solutions for ₹449 crore.
(With inputs from Nehal Chaliawala)