Godrej Consumer MD & CEO Sitapati quits, shares hit 3-year low

Sudhir Sitapati, Godrej Consumer Products’ MD and CEO, has resigned just months after his reappointment, the company announced on Tuesday. Following the announcement of the abrupt leadership change, shares of the company fell as much as 10% on Wednesday, hitting their lowest level in more than three years. CFO Aasif Malbar has been appointed as the new MD and CEO.