Mohit Malhotra has been appointed chief executive officer of Dabur India, an Ayurveda major. Malhotra, who will be taking charge from April 1, will replace Sunil Duggal, currently the longest serving CEO at the company.
“During the last few years, the Board of Directors of the company had undertaken a succession planning exercise to identify the successor to take over the responsibility from Mr. Sunil Duggal, who has been the Dabur India Ltd CEO since 2002. Mr. Duggal was entrusted with the responsibility of ensuring a smooth transition. As a result of this process, Mr. Mohit Malhotra was found to be suitable as a successor to Mr. Duggal. Therefore, on the recommendation of the Nomination and Remuneration Committee, the board today approved the appointment of Mr. Malhotra as the new Chief Executive Officer of Dabur India Ltd,” said Dr Anand C Burman, chairman of Dabur India was quoted by the Economic Times.
“I, on behalf of the Dabur Board, thank Sunil Duggal for his invaluable contribution of over 24 years with the organization, including 17 years as the CEO. I also wish Mohit Malhotra all the best, and we are confident that under his leadership, the Company will continue to grow,” Dr Burman added.
48-year old Malhotra joined Dabur in 1994 as a management trainee after completing his MBA from Indian Institute of Foreign Trade, New Delhi. He handled key assignments in marketing and sales, besides being CEO of Dabur International, based out of Dubai, before taking charge as the CEO-India Business in his current position.
While, Duggal will step down from the position of CEO, he will continue to serve as a whole time director till May 15, 2019 and then continue as a non-executive director till July 30, 2020.