Fast moving consumer goods major Colgate Palmolive (India) Monday appointed Issam Bachaalani as managing director of the company for a period of five years with effect from Oct 1, 2014, it said in a filing in the Bombay Stock Exchange.
Bachaalani will replace current managing director Prabha Parameswaran.
The company has informed that Parameswaran has been promoted and appointed as the president Africa, Eurasia Division and will relocate to Switzerland as part of her new assignment.
"Consequently, Prabha Parameswaran will cease to be the managing director of CPIL with effect from Oct 1, 2014," the company stated.
Parameswaran will assume the new responsibility of Colgate's vast and diverse region effective Oct 1, 2014, it said.
