NEW DELHI: Fast-moving consumer goods (FMCG) company Dabur India Ltd on Friday announced the appointment of Amit Burman as its chairman, replacing Anand Burman, who stepped down as the director and chairman.
Amit Burman had been vice chairman of the company, known for its Real juice brand and Vatika hair oil, since 2007.
On Friday, Dabur reported a 10.3% jump in consolidated net profit to ₹363 crore for the first quarter of FY20. Consolidated revenue from operations grew 9.1% from ₹2,081 crore in the year-ago period to ₹2,273 crore in the quarter ended 30 June, backed by a strong distribution network in rural India and higher investments in key brands.
The domestic FMCG business reported volume growth of 9.6% during the quarter.
The company’s board also approved the appointment of Mohit Burman as vice chairman, and inducted Aditya Burman (son of Anand Burman) as a non-executive additional director on the board.
“The Board of Directors of Dabur India Ltd today approved the appointment of Amit Burman as the chairman of the company. Amit Burman, who is the son of late Gyan C. Burman, replaces Dr. Anand C. Burman, who stepped down as director and chairman of the company," the company said in a statement.
In May 2017, Anand Burman, was reappointed non-executive chairman of the company for a period of five years in what was his third-tenure.