Emami rejigs board; founders RS Agarwal, RS Goenka make way for their sons

R S Agarwal and R S Goenka, the founders of fast-moving consumer goods (FMCG) company Emami, have decided to step down from their current executive positions while continuing on the board of the company.   Accordingly, the company's board has unanimously decided to appoint Goenka as non-executive chairman while re-designating Agarwal as Chairman Emeritus effective from April 1, 2022, the company said.   "Both the founders will not accept any emoluments from the company for taking up their new positions. The decision comes in the wake of board restructuring that was part of the succession planning of the FMCG business of the Group," a release said.   Besides, the company's board has also accepted Sushil K Goenka's request to step down from his current position as Managing Director of the company as part of the transition process and has re-appointed him as a whole-time director.   Meanwhile, the company has also promoted Mohan Goenka, eldest son of R S Goenka, and Harsha V Agarwal, younger son of R S Agarwal, as vice chairman-cum-whole time director and vice chairman-cum-managing director, respectively, from April 1, 2022.   The release said Mohan Goenka and Mr Harsha V Agarwal, whole-time directors of the company, have been serving the business dedicatedly for over two decades, spearheading multiple functions and growing the business successfully thereby gaining immense exposure to steer the organisation forward.   "The board therefore found them to be deserving candidates and re-designated Mohan Goenka and Harsha V Agarwal and whole-time directors as vice chairman-cum-whole time director and vice chairman-cum-managing director, respectively, effective 1st April, 2022 to steer the organisation forward, subject to shareholders' approval," it added.