Cigarette maker Godfrey Phillips appoints Sharad Aggarwal as CEO

Cigarette maker Godfrey Phillips India on Monday announced the appointment of Sharad Aggarwal as Chief Executive Officer.

Aggarwal (50), who is taking over from Bhisham Wadhera, will be reporting to Godfrey Phillips India President and Managing Director Bina Modi, the company said in a statement.

Wadhera, who has been at the helm of the company since 2015, has demitted office on December 26, 2021, and will continue to guide the organisation as an advisor and mentor, it added.

Earlier, the board in its meeting held on September 16, 2021, had approved the appointment of Sharad Aggarwal, who was serving as the COO and Whole Time Director of Godfrey Phillips.

Commenting on the development, Bina Modi said: "Sharad has been with the organisation since 1994 and has exceptional credentials of delivering results. He has proven himself as an inspiring leader and led transformational changes in the organisation, and I firmly believe he is the right choice to unleash the potential of Godfrey Phillips to the fullest, create a sustainable business with sales and profit growth and value for all stakeholders".

Sharad is an alumnus of the Harvard Business School and holds a degree in Electronics from REC, Nagpur, and a Post Graduate Diploma in Business Management with Gold Medal from IMT, Ghaziabad.

As COO of Godfrey Phillips India, Sharad has ensured that the company invests in the best international technology, processes and certifications for its state-of-art manufacturing facilities across India, the statement said.

Godfrey Phillips India is a flagship company of Modi Enterprises and owns cigarette brands such as - Four Square, Red & White, and Cavanders.

The company, which also has an exclusive sourcing and supply agreement with Philip Morris International to manufacture and distribute the Marlboro brand in India, had reported a revenue of Rs 2,925.74 crore for the year ended on March 31, 2021.