Dabur India on Friday named Amit Burman its chairman, as the next generation takes the reins at one of the nation's oldest consumer goods companies.
The 50-year-old, a fifth-generation member of the founder family, is the youngest chairman at Dabur with annual revenue of more than Rs 8,500 crore. He was being groomed for the post for the past two years, a company spokesperson said. Son of late GC Burman, he succeeds Anand Burman who has stepped down as a director and the chairman after a 12-year tenure.
Until now the vice-chairman of the company, Amit Burman had in 1997 set up Dabur Foods, a wholly owned subsidiary of Dabur India that was merged with the parent ten years later. He runs also independent food retailing venture Lite Bite Foods, which includes the Punjab Grill, Asia 7 and Street Foods brands of restaurants with more than 100 outlets, including in markets like the US.
Another family scion, Mohit Burman, has been named the vice chairman of Dabur. Anand Burman's son, Aditya, is joining Dabur India as a non-executive additional director. He will also be a director at Oncquest Laboratories, a clinical pathology and molecular diagnostics company of the group.
Mohit, currently managing director of London Stock Exchange-listed Elephant Capital, has led the Dabur Family Office's investments in multiple financial services including life insurance, general insurance and asset management, retail and sports. His investments include Aviva Life Insurance, Universal Simon General Insurance and IPL team Kings XI Punjab.
Set up in 1884 by physician SK Burman to sell natural medicines, Dabur now makes a range of packaged brands including Vatika shampoo, Fem skincare, Red toothpaste, Odonil air fresheners, Real juice and Hommade cooking pastes. The company had in January named Mohit Malhotra its chief executive, succeeding Sunil Duggal who resigned also from the board on Friday.