Dabur India's global CEO Mohit Malhotra resigns

Nov 4 (Reuters) - Dabur India DABU.NS said on Wednesday that its global CEO Mohit Malhotra had resigned after more than three decades with the consumer goods company to pursue an overseas role.

Malhotra's resignation comes amid a series of executive changes at Indian consumer goods majors, as they look to navigate uneven demand and improve margins with rising ​raw material costs squeezing the sector.

"I have accepted a leadership role overseas, effective 16 November 2026 ... I believe this is the right moment in my career to take on a new challenge," Malhotra said in a letter to Dabur Chairman Mohit Burman on Tuesday.

In August 2023, Malhotra had been reappointed as Dabur's CEO for five years, through January 30, 2029. But in February this year, he was named as the global CEO, with Herjit Bhalla heading the India business.

Dabur did not name an interim replacement for Malhotra, whose resignation takes effect on November 13. It is not yet clear where he will take up his next role.

The company also said that P. D. Narang, an existing whole-time director, will continue guiding the group's businesses, including overseeing its international operations, which account for 30% of its revenue.

Separately, Dabur reported quarterly profit above market expectations on steady demand for personal care goods and packaged foods, even as rising costs weigh on margins.

Profit climbed nearly 12% to 5.06 billion rupees ($53.43 million) for the second quarter ended September 30, beating analysts' expectations of 4.98 billion rupees, according to data compiled by LSEG.

Total revenue rose 12% to 35.63 billion rupees, with its mainstay consumer care business, known for its Odomos mosquito repellent and Odonil air freshener brands, climbing 11% from a year earlier.

Industry bellwethers Hindustan Unilever HLL.NS and Nestle India NEST.NS have reported growth in quarterly sales volume.

Dabur shares, which have lost a quarter of their value over the last one year, closed nearly 4% higher ahead of the results and resignation announcement.

($1 = 94.7100 Indian rupees)