Marico Ltd appoints Pawan Agrawal as its new chief financial officer
FMCG firm Marico Ltd has appointed Pawan Agarwal as its new chief financial officer (CFO), following the resignation of Vivek Karve from the company after twenty years of service.
Agrawal had joined Marico in 2004, as regional operations manager for south sales division in Hyderabad and currently is the executive vice president and head and finance. Agarwal will take charge as the CFO from September 10, 2020.
"The board accepted the resignation of Vivek Karve, chief financial officer, to be effective from the close of business hours on September 10, 2020. The board appointed Pawan Agrawal as the CFO of the company with effect from September 10, 2020, in succession to Karve," Marico said in the BSE filing.
“In his 20 years stellar career in Marico's group finance, Karve contributed significantly to the Company's growth and transformation journey," the filing added.
For the fiscal year 2019-20, Marico had reported a net profit of Rs 1,043 crore ($138.8 million) with sales revenue of Rs 7,315 crore.
Earlier this month, Marico Ltd had acquired an additional 55 percent stake in Beardo to take complete control of the men’s grooming brand.
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