Marzin R Shroff steps down as Managing Director and CEO of Eureka Forbes

Eureka Forbes announced today that Marzin R. Shroff will step down as Managing Director and CEO of the company, effective August, 2022 and will move to a new role as Senior Advisor to both Advent International ("Advent") and Eureka Forbes Ltd. ("Eureka Forbes")

Marzin has led Eureka Forbes through a strong transformative phase, helping to grow the company and build iconic brands like Aquaguard and Forbes. Marzin also led the transition process of Eureka Forbes to Advent from the Shapoorji Pallonji Group and has helped to develop Eureka Forbes' new growth strategy. Under Marzin's leadership, Eureka Forbes has nurtured a strong team centred on a culture of innovation and customer service.

In his new role as Senior Advisor, Marzin will use his expansive industry knowledge to assist both Advent and Eureka Forbes with managing business risks, cultivating best in class talent and building strong leadership.

Sahil Dalal, Managing Director at Advent, said, "Marzin helped reshape Eureka Forbes to a powerful omni-channel organisation. Under his leadership, Eureka Forbes has nurtured a strong team and built iconic brands centred on innovation and customer service. We look forward to continue benefitting ji·om Marzin 's wealth of experience in his new role as a Senior Advisor."

Marzin R. Shroff said, "I am proud to have helped build a purpose driven organisation and led the company through a transformative period of growth, which today is a market leader in each of its core categories. I am looking f01111ard Jo continuing my work with Advent International and Eureka Forbes in the capacity of Senior Advisor, where I hope to utilise my expertise and experience lo navigate the current market in the new normal.

Shares of Eureka Forbes Ltd was last trading in BSE at Rs. 283.25 as compared to the previous close of Rs. 295.00. The total number of shares traded during the day was 18214 in over 331 trades.

The stock hit an intraday high of Rs. 299.90 and intraday low of 282.00. The net turnover during the day was Rs. 5326470.00.

Source : Equity Bulls

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