Dabur's chairman Amit Burman resigns, will remain non-executive director

Saket Burman has been appointed as the non-executive vice chairman of the board of directors with effect from August 11 for a period of 5 years

Chairman of Dabur India Ltd, Amit Burman resigned from his post on August 10, the company said on Friday. Non-executive vice chairman, Mohit Burman, has been appointed as the non-executive chairman of the board of directors of the company, with effect from August 11 for a period of 5 years. 

Amit will continue to remain the non-executive director of the fast-moving consumer goods (FMCG) company. 

"We wish to inform you that the Board of Directors have on August 11, 2022, approved following changes in the position of Chairman and Vice Chairman of the company. 1. Acceptance of resignation of Mr. Amit Burman from the post of Chairman of the Board of Directors of the Company with effect from the close of working hours of August 10, 2022," the company announced. 

Saket Burman has been appointed as the non-executive vice chairman of the board of directors from August 11 for five years.

Amit Burman was first appointed as the CEO of Dabur Foods in 1999. After the merger of Dabur Foods and Dabur India in 2007, Burman became the vice chairman of Dabur India. In 2019, he became the chairman of the firm. 

In Q1FY23, the company recorded a growth of 8.1 per cent year-on-year (YoY) in the revenue to Rs 2,822 crore. However, the company's net profit saw a flat growth YoY at Rs 440 crore. 

On Friday, the shares of Dabur India Ltd were trading at Rs 580.5 per share at BSE, nearly 0.3 per cent in the red. The company's shares were trading at Rs 580.35 apiece at NSE, 0.4 per cent in the red.