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Marico COO Vaibhav Bhanchawat resigns, with Ashish Goupal set to succeed him as CEO of India Core Business.
The company has accepted the resignation of its Chief Operating Officer, Vaibhav Bhanchawat, whose resignation letter reached the company on December 4, 2024. Bhanchawat joined the organization as COO in October 2023, and in the resignation letter submitted to the organization, he wrote that he decided to pursue further career opportunities outside the organization. Bhanchawat will leave Marico on March 31, 2025.
Bhanchawat joined Marico in 2020 and has been working in the company in various capacities before being appointed as COO, India & Foods Business. Bhanchawat has played a very important role in the operations and growth strategies of the company in India and its food business during his tenure. Bhanchawat is leaving the company just 14 months after taking on the COO role, which is a significant change in Marico's leadership.
In an official statement, Marico informed the stock exchange regarding the management reshuffle and appointment of Ashish Goupal to take over Bhanchawat's place. Goupal is the current CEO of Marico's International Business and will become the CEO of India Core Business from April 1, 2025. Goupal has been with Marico since 2006 and held various leadership positions during his 17-year career, making him well-suited for the new role.
Marico's spokesperson was quoted saying of Bhanchawat's resignation, "We appreciate Vaibhav's contributions to the company and wish him the best in his future endeavors." It is expected that this change of leadership will help support the continued growth of Marico in both its domestic and international markets.
It comes at an opportune moment for Marico, which now intends to put its focus towards widening its presence across India while enhancing its global business.
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