Economic TimesLean R·
Godrej Consumer Products shares tank 10% after CEO’s sudden exit; HSBC downgrades to Hold
Shares of FMCG major Godrej Consumer Products Ltd. (GCPL) crashed as much as 10% to an intra-day low of Rs 916 on the BSE on Wednesday, following the company's announcement of Managing Director and Chief Executive Officer (MD & CEO) Sudhir Sitapati's sudden resignation with immediate effect.In his resignation letter, Sudhir Sitapati said that GCPL's total shareholder return averaged around 10% from May 7, 2021, when his appointment was announced, through August 9, compared with around 8% fo…
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