Butterfly Gandhimathi appoints Swetha Sagar as manager & CBO

Butterfly Gandhimathi Appliances announced that it has appointed Swetha Sagar as manager & chief business officer (CBO) of the company with effect from 15 June 2024.

The appointment is subject to the approval of shareholders of the company.

Swetha Sagar has over 19 years in brand management, strategic planning, and business development. Throughout her career, she has held leadership positions at renowned companies such as Versuni India (previously Philips Domestic Appliances), Hindustan Coca Cola, and Hutchinson Essar.

Meanwhile, Rangarajan Sriram, managing director of Butterfly Gandhimathi Appliances and head of kitchen appliances division at Crompton has stepped down as managing director with effect from 14 June 2024.

Promeet Ghosh, MD & CEO, Crompton Greaves Consumer Electricals (company holding 75% of Butterfly Gandhimathi Appliances) said, Swethas proven expertise aligns perfectly with our vision for Butterfly's continued growth. We are committed to further solidifying Butterfly's position as a leading kitchen appliance brand in India.

Butterfly Gandhimathi Appliances is a manufacturer/marketer of domestic kitchen and domestic electrical appliances under the 'BUTTERFLY' brand.

The company reported standalone net loss of Rs 17.64 crore in Q4 FY24 as against a net profit of Rs 1.56 crore posted in Q4 FY23. Net sales fell 10.9% year on year to Rs 166.38 crore in the quarter ended 31 March 2024.

The scrip slipped 1.23% to end at Rs 731.10 on Friday, 14 June 2024. The stock market is closed today on occasion of Bakri-Id.

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