Siddharth Chawla Joins Godfrey Phillips India as New COO
Siddharth Chawla Appointed COO of Godfrey Phillips India Amid Retail and Financial Developments
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Godfrey Phillips India has appointed Siddharth Chawla as its new Chief Operating Officer (COO) and senior management personnel, effective January 7, 2025. The appointment was approved by the Nomination and Remuneration Committee, reflecting the company's focus on leadership strengthening amidst evolving retail division developments.
Leadership Addition
- Siddharth Chawla brings 24 years of experience in FMCG and e-commerce leadership roles.
- Career highlights include roles at ITC, Udaan, and Pharmarack Technologies, specializing in go-to-market strategies, new business launches, and large team management.
Retail Business Dispute
Godfrey Phillips India is addressing a legal dispute regarding 24Seven trademarks, with plaintiffs demanding:
- 7% royalty on sales revenue (2005–2024).
- 18% annual interest and Rs 2 crore in damages.
The company, citing legal advice, maintains that no royalty is payable and expects no material financial impact from the claim.
Financial Performance
- Q2 FY25 consolidated net profit rose 22.9% to Rs 248.33 crore.
- Net sales increased 19.3% to Rs 1,372.86 crore.
- Shares closed marginally higher at Rs 5,078.45 on the BSE.
