Procter & Gamble Health has informed stock exchanges that the company’s Executive Director and Chief Financial Officer (CFO) Amit Gupta has stepped down. Gupta’s resignation will be effective from March 31. 

According to the FMCG major, Gupta will be moving to a regional role within the Procter & Gamble Group. The company has appointed Lokesh Chandak as its new Chief Financial Officer and Additional (Executive) Director. 

Chandak will take charge from April 1. The company has informed the exchanges that his appointment as Director is subject to the allotment of a Director Identification Number by the Ministry of Corporate Affairs.

Chandak has worked with the company for 13 years across 3 geographies. 

“Chandak will hold office as Additional Director up to the ensuing annual general meeting. The appointment of Chandak as Executive Director is also subject to the approval of the shareholders of the company. We confirm, basis the declarations received, that Chandak is not disqualified or debarred from holding the office of Director by any order from SEBI/ MCA or any other such authority. He does not hold any shares in the Company and is not related to any of the directors of the company,” the company stated in the exchange filing.