Future Consumer appoints Rajnikant Sabnavis as CEO, effective from January
today Dec 3, 2019
Future Group’s fast moving consumer goods business Future Consumer has named Rajnikant Sabnavis as its new chief executive officer, effective from January 1, 2020.
From January, Sabnavis will step into his new role as Future Consumer CEO replacing Devendra Chawla who had left the position over two years ago, ET Bureau reported. Sabnavis was formerly chief operating officer of Jyothy Labs and has also worked for Hindustan Unilever for over 20 years.
Future Consumer’s brands include beauty brands Kara and TS and personal care brands Think Skin and Puretta among others. The business reported a 10.85% increase in net sales to Rs 1,120 crore ($168.4 million) in the quarter ending in September 2019 compared to Rs 1,011 crore in the same quarter a year ago.
The business also reported a net loss of Rs 16.75 crore in the July to September quarter, up from Rs 3 crore during the same time period the year before. The business’ revenue for the 2019 financial year totalled Rs 2990 crore. Future Consumer is targeting a turnover of Rs 6,000 crore in the coming five to seven years.
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