Godrej Consumer plunges after Sudhir Sitapati?s surprise exit; Aasif Malbari Takes Charge

Godrej Consumer Products (GCPL) tumbled 9.79% to Rs 918.35 after the company announced that its managing director (MD) and chief executive officer (CEO), Sudhir Sitapati, has resigned from his position with effect from 11 August 2026.

Sitapati's resignation comes well ahead of the completion of his current tenure, which had earlier been extended for five years until October 2031. The sudden leadership change weighed on investor sentiment, triggering sharp selling pressure in the stock.

Following the resignation, the company's board appointed Aasif Malbari, who was serving as chief financial officer (CFO), as an additional director (executive, non-independent) and designated him as MD & CEO for a term of five consecutive years.

The board also approved Malbari's appointment as a member of the Corporate Social Responsibility Committee, Environment, Social & Governance (ESG) Committee and Management Committee. He will continue to serve as a member of the Risk Management Committee in his capacity as a director.

Consequent to his appointment as MD & CEO, Malbari resigned as CFO with effect from the close of business hours on 11 August 2026. Vishal Kedia has been appointed as the interim CFO with effect from 12 August 2026 and will also serve as a member of the Risk Management Committee.

Malbari is a Chartered Accountant and Company Secretary and secured the All India First Rank in both the CA Intermediate and Final examinations. A graduate of Sydenham College, University of Mumbai, he has around three decades of experience across the FMCG and automobile sectors, including stints at Godrej Consumer Products, Tata Motors and Hindustan Unilever.

As Global CFO, he directly oversees business strategy and has played a critical role in partnering leadership teams across geographies to advance growth and strengthen performance. Aasif has delivered an outstanding transformation of GCPL's Africa business. The business has rapidly grown its margin-accretive FMCG portfolio, this has resulted in EBITDA margins growing significantly, from around 9% in FY24 to approximately 15% in FY26.

Godrej Consumer Products is an Indian consumer goods company. The company's products include soap, hair colorants, toiletries and liquid detergents.

The company reported a 11.50% increase in consolidated net profit to Rs 504.52 core on 18.31% rise in total revenue from operations to Rs 4,225.47 crore in Q1 FY27 over Q1 FY26. Revenue growth was driven by underlying volume growth of 9%, while revenue and profit growth remained broad-based across all businesses.

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