Marico, one of India's leading consumer products companies in the global beauty and wellness space, today, approved the appointment of Saugata Gupta, CEO, Marico as managing director and CEO.

Saugata Gupta will be inducted into the company's board of directors effective April 1, 2014. Harsh Mariwala will continue as chairman, Marico. The above changes are subject to approval by the shareholders at the ensuing Annual General Meeting of the company.

Harsh Mariwala, chairman, Marico, said, ''This announcement reflects the next phase of Marico's growth journey. Under Saugata Gupta’s leadership, Marico has had a track record of sustainable profitable growth. Marico has had a 5 Yr. CAGR of 19% in topline and bottomline. I am confident that we will achieve new heights under the leadership of Saugata and his team.''

Prior to joining Marico, Saugata was chief of marketing and group sales at ICICI Prudential and was part of the start-up team that was instrumental in establishing ICICI Prudential as the largest private sector Insurance firm in the country.

Saugata started his career with Cadbury's where he spent 9 years in various roles in sales and marketing in India and the United Kingdom. His last role was marketing manager - chocolates. Saugata has 20 years of experience primarily in the FMCG sector. He has an engineering degree from IIT Kharagpur and is an alumnus from IIM Bangalore.

Shares of the company gained Rs 1.1, or 0.53%, to trade at Rs 206.90. The total volume of shares traded was 6,144 at the BSE (10.02 a.m., Tuesday).