After being associated with Procter & Gamble for 28 years, L V Vaidyanathan, Managing Director, P&G India, has resigned from the Directorship of the company, effective close of business hours on April 30, 2024, to pursue other interests.
Following this, the company has announced the appointment of Kumar Venkatasubramanian as the new Chief Executive Officer of P&G India, effective May 1, 2024.
Under the leadership of Vaidyanathan, P&G India has made ‘strides of progress’ on the journey of bringing in ‘superior propositions’ for the Indian consumers and delivered ‘consistent balanced growth of top and bottom line’ and also stepped-up on efforts across the key areas of Citizenship– Community Impact, Equality and Inclusion and Environmental Sustainability.
That being said, P&G India’s new to-be CEO, Venkatasubramanian, being an alumnus of IIM Calcutta started his journey with P&G in the sales team in India, straight from campus in 2000.
Since then, he has spent a majority of his close to 24 years professional career in India across different roles in the Sales function of P&G India and the Oral Care category until 2020.
In 2021, he was elevated to the role of CEO, P&G Australia and New Zealand, and was tasked with steering the team to deliver record metrics, driven by category growth and strong retailer partnerships.
Commenting on the development, Stanislav Vecera, P&G President, Asia Pacific, Middle East, and Africa, said, “I want to thank LV for his outstanding leadership of the India organization, and his service to P&G for nearly 3 decades. I wish him all the best for his future endeavors. I am thrilled with Kumar Venkatasubramanian’s appointment as the India CEO, who has been an integral part of the P&G India growth story for well over two decades. Kumar is no stranger to the India organization, having spent many years building and executing our business strategies here. The India business and people will immensely benefit from his leadership and vision, and collectively I am certain they will take the India business to new heights while maintaining a balanced growth outlook.”
To this, the outgoing P&G India MD, Vaidyanathan, added, “It has been a great honor and privilege to lead our business in India. The journey has been incredibly fulfilling. I am so proud of every P&G employee for demonstrating commitment and passion to serve our consumers, customers, and stakeholders, and for the results we collectively achieved. I am confident in the continued success of the company and the people.”
Expressing his excitement on being appointed the new CEO, Venkatasubramanian, said, “It is a moment of great pride for me to come back to India and spearhead the P&G business in the country. I look forward to being back in the market, learning more about the Indian consumers and serving their needs. The India organization is on a momentum, delivering consistent results and a balanced top and bottom-line growth.”
“It will be important for us to remain focused on our integrated growth strategy, as I believe it is the right strategy for us to deliver sustained outcomes. We will focus on a portfolio of daily use products where performance drives brand choice and raise the bar on all aspects of our superiority strategy– product, package, brand communication, retail execution, and value. We aim to lead constructive disruption in the industry across the value chain. I believe that our agile, empowered, and accountable organization will be at the heart of our growth. I look forward to working with our incredibly talented team in India once again and playing a part in the India growth story,” he added.
