Marico appoints Ananth Narayanan to its board for digital push

By

Maverick Martins

Published
Jun 29, 2017

Marico, India’s leading Consumer Products Group in beauty and wellness space, has appointed Myntra-Jabong CEO Ananth Narayanan on its Board of Directors as an Additional (Independent) Director, the company said in a statement.

Marico had earlier stated that it plans to launch various digital e-commerce initiatives and it looks like Narayanan will have to shoulder the responsibility of giving the company a digital push.

Narayanan has a successful track record in the e-commerce space and was instrumental in making the Flipkart-owned online fashion retailers Myntra and Jabong the country’s largest online shopping platforms.

"I am delighted to welcome Ananth on Board and I am confident that his rich experience, knowledge and proficiency will prove to be an invaluable asset to the company as it embarks upon the next phase of sustainable profitable growth in an ever-evolving digital world," said founder and chairman Marico, Harsh Mariwala.
 
His appointment as Independent Director for a term of five years is subject to the approval of the shareholders at its ensuing 29th annual general meeting.
 
During 2016-17, Marico recorded a turnover of INR 59 billion (USD 886 Million) through its products sold in India and about 25 other countries in Asia and Africa.