Procter & Gamble India (P&G) Managing Director L.V. Vaidyanathan announced his resignation on Monday, March 18, to pursue other interests. Kumar Venkatasubramanian has been appointed as his successor and will officially assume the role of managing director on May 1, 2024.
The board of directors of P&G has approved Venkatasubramanian's appointment for a five-year term. Vaidyanathan's departure marks the end of his tenure with the company, effective April 30, 2024.
Over the span of 23 years, Venkatasubramanian has held various leadership positions within P&G, demonstrating proficiency in sales and management across diverse markets such as India, Brazil, and Australia.
His trajectory within P&G saw him rise through the ranks, managing critical partnerships and leading the sales function and oral care category in India until 2020. Venkatasubramanian's performance led to his appointment as CEO of P&G Australia and New Zealand in 2020, where he achieved remarkable business growth. Vaidyanathan, who assumed the role of CEO in July 2022 after leading P&G's business in Indonesia, has contributed over 26 years of expertise to the company. His tenure has been marked by strategic expansion and operational excellence across diverse regions, including India and ASEAN countries. Venkatasubramanian's appointment is contingent upon shareholder approval and the nod from the central government, as per the provisions of the Companies Act, 2013.
(Edited by : Shoma Bhattacharjee)
