Fast moving consumer goods (FMCG) firm Jyothy Laboratories Ltd has entrusted joint managing director K Ullas Kamath with additional responsibility of chief financial officer, as per a BSE filing.
It was under his leadership that the company diversified and become a multi product FMCG firm.
Kamath has spearheaded setting up of laundry business Fabric Spa and acquisition of Henkel India. In addition, ML Bansal will now hold the position of company secretary and compliance officer, the company said.
Jyothy Laboratories is known for brands like Ujala (fabric care), Maxo (household insecticides) and Exo (dishwashing). The company has around 28 manufacturing facilities located in 16 places across India.
Three years ago it acquired Henkel’s India business, a deal which elevated Jyothy Laboratories to the top league of FMCG players in India. It raised Rs 550 crore as debt through a five-year loan from Axis Bank to refinance part of the debt it incurred to buy the majority stake in Henkel India.
(Edited by Joby Puthuparampil Johnson)