Marico announced on Friday that its board of directors has reappointed Saugata Gupta as its Managing Director and Chief Executive Officer for another two-year term. Gupta's reappointment will take effect on April 1, 2024.
In its meeting on Friday, Marico's board of directors approved the "re-appointment of Saugata Gupta as the Managing Director & Chief Executive Officer for a term of two years w.e.f. April 1, 2024 to March 31, 2026."
He joined Marico as Head of Marketing in 2004 and was promoted to CEO of India Business in 2007. He was appointed Managing Director of the company in 2014.
In addition, the company's board of directors has appointed Rajan Bharti Mittal as an independent director for a five-year term beginning July 1, 2023 and ending June 30, 2028.
Mittal is the Vice-Chairman of Bharti Enterprises, one of India's largest conglomerates with diverse interests in telecommunications, space communications, digital solutions, financial services, real estate, and agri-processed foods, among other things.
Both appointments are "subject to the approval of the shareholders," according to the statement.