Procter & Gamble India names Kumar Venkatasubramanian as New CEO
Procter & Gamble India, a leading manufacturer of packaged consumer goods, has announced the appointment of Kumar Venkatasubramanian as its new Chief Executive Officer, effective from May 1, 2024. Venkatasubramanian will be succeeding LV Vaidyanathan, who has decided to step down from his role after serving the company for 28 years to pursue other interests. This decision comes as Vaidyanathan's tenure as CEO of P&G India, which commenced on July 1, 2022, comes to a close. P&G India is renowned for its brands such as Ariel, Tide, Whisper, Olay, and Gillette.
At the age of 48, Venkatasubramanian, an IIM Calcutta graduate, commenced his career with P&G in India in 2000, initially serving in the sales department. With more than twenty years of experience, predominantly within India, he has held various roles within the sales domain. Presently, he holds the position of CEO overseeing P&G's operations in Australia and New Zealand. Before assuming his current role, Venkatasubramanian led the sales team at P&G India until 2020.
“I want to thank LV for his outstanding leadership of the India organization and his service to P&G for nearly 3 decades. I wish him all the best for his future endeavors. I am thrilled with Kumar Venkatasubramanian’s appointment as the India CEO, who has been an integral part of the P&G India growth story for well over two decades. Kumar is no stranger to the India organization, having spent many years building and executing our business strategies here. The India business and people will immensely benefit from his leadership and vision, and collectively I am certain they will take the India business to new heights while maintaining a balanced growth outlook," said Stanislav Vecera, P&G president, Asia Pacific, Middle East, and Africa.
P&G India consists of four distinct entities, which include two prominent listed companies, Gillette India and Procter & Gamble Hygiene & Health Care. Over the past decade, P&G has made investments exceeding Rs 8,200 crore in its operations within the country. Recently, it unveiled intentions to establish a new manufacturing facility for personal healthcare products in Gujarat, with an investment of Rs 2,000 crore, announced last year.
The India organization is on a "momentum", delivering consistent results and a balanced top and bottom-line growth said Venkatasubramanian. “It will be important for us to remain focused on our integrated growth strategy, as I believe it is the right strategy for us to deliver sustained outcomes. We will focus on a portfolio of daily-use products where performance drives brand choice and raise the bar on all aspects of our superiority strategy– product, package, brand communication, retail execution, and value. We aim to lead constructive disruption in the industry across the value chain. I believe that our agile, empowered, and accountable organization will be at the heart of our growth", he added.