GCPL seeks approval to appoint Aasif Malbari as MD & CEO

Godrej Consumer Products has issued a postal ballot notice seeking shareholder approval for the appointment of Aasif Malbari as Managing Director and Chief Executive Officer. The appointment is for a five-year term commencing August 12, 2026. The Board of Directors approved the proposal on August 11, 2026, following a recommendation from the Nomination and Remuneration Committee. Shareholders holding shares as of September 1, 2026, are eligible to vote via remote e-voting through Central Depository Services (India) Limited. Appointment Details Mr. Malbari, a Chartered Accountant and Company Secretary, currently serves as the Global Chief Financial Officer of the company. He joins the board as an Additional Director effective August 12, 2026, pending shareholder ratification. His last drawn remuneration in FY25-26 was ₹11.03 crore. The proposed resolution designates him as Managing Director & CEO, liable to retire by rotation. The Board cited his extensive experience in the FMCG and auto industries, including roles at Tata Motors and Hindustan Unilever, as key factors in the decision. Remuneration Structure The compensation package includes fixed pay, performance-linked variable remuneration, and long-term incentives. The annual fixed remuneration is capped between ₹7 crore and ₹14 crore. Performance-linked variable remuneration targets range from ₹6 crore to ₹12 crore annually, with payouts tied to metrics such as underlying volume growth, sales growth, consolidated PAT, and free cash flow. Component Details Fixed Compensation ₹7 crore to ₹14 crore per annum Variable Pay Target ₹6 crore to ₹12 crore per annum Term Duration 5 years (August 12, 2026 – August 11, 2031) Last Drawn Pay ₹11.03 crore (FY25-26) Long-term incentives are subject to malus and clawback provisions under the Employee Stock Option Scheme. Vesting is linked to profitability and long-term value creation metrics. Voting Schedule Remote e-voting begins on September 8, 2026, at 9:00 am and concludes on October 7, 2026, at 5:00 pm. The results will be announced on or before October 9, 2026. The notice is available on the company website and the CDSL e-voting platform.