Future Consumer Limited has announced the appointment of Samson Samuel as Chief Executive Officer ("CEO") of the Company.
Samson Samuel has earlier been part of the Future Group ecosystem, and most recently as CEO of Nilgiris which he turned around successfully in the last 12 months with a combination of product launches and strategic restructurings.
GN Bajpai commented: "The Covid pandemic has changed the scene for Future Consumer. On behalf of the Board, I am delighted that Future Consumer has such talent within its organisation. Samson Samuel has shown creativity and resilience in the turnaround of Nilgiris, and we are confident that he will address the challenges posed by the pandemic and actively recalibrate the assets of the group to satisfy its new commercial reality. He will be reporting to the Board, as representing all stakeholders of the Company and will be able to rely on my and Kishore Biyani's support as Chairman and Vice Chairman of the Board respectively. 11 Samson Samuel commented: "I am honored to have been approached to serve as Chief Executive Officer of Future Consumer. I am well aware of the challenges ahead of us to restore the Company to profitable growth and alleviate the burden of its indebtedness by selling certain non-strategic assets. I will work closely with the Board to fulfill my mission."
The appointment of CEO has been done following the resignation of Ashni Biyani - Managing Director for her personal reasons. Ms Biyani will continue to serve on the Board of Future Consumer as a Non-Executive Director.
The Board is very thankful to Ashni Biyani for the extraordinary contribution she has made to the Company over the years and is grateful that she remains part of the governance of the Company.
Shares of Future Consumer Limited was last trading in BSE at Rs. 2.15 as compared to the previous close of Rs. 2.23. The total number of shares traded during the day was 3718511 in over 10191 trades.
The stock hit an intraday high of Rs. 2.23 and intraday low of 2.09. The net turnover during the day was Rs. 7946595.00.