Cigarette maker Godfrey Phillips India announced the appointment of Sharad Aggarwal as Chief Executive Officer on Monday.

Aggarwal (50), who succeeds Bhisham Wadhera, will report to Godfrey Phillips India President and Managing Director Bina Modi, the company said in a statement.

Wadhera, who has headed the company since 2015, stepped down on December 26, 2021 and will continue to lead the organization as an advisor and mentor, he added.

Previously, at its meeting on September 16, 2021, the board had approved the appointment of Sharad Aggarwal, who was acting as COO and Whole Time Director of Godfrey Phillips.

Commenting on the development, Bina Modi commented: “Sharad has been with the company since 1994 and has exceptional credentials for delivering results and choosing to fully leverage Godfrey Phillips’ potential to create a sustainable business with revenue and profit growth and value for all parties.”

Sharad is an alumnus of Harvard Business School and has a degree in electronics from REC, Nagpur, and a postgraduate diploma in business administration with gold medal from IMT, Ghaziabad.

As COO of Godfrey Phillips India, Sharad has made sure the company is investing in the best international technology, processes and certifications for its state-of-the-art manufacturing facilities across India, the statement said.

Godfrey Phillips India is a flagship company of Modi Enterprises and owns cigarette brands such as Four Square, Red & White and Cavanders.

The company, which also has an exclusive sourcing and supply agreement with Philip Morris International to manufacture and distribute the Marlboro brand in India, reported sales of Rs.2,925.74 billion for the year ended March 31, 2021.

(Image: UNSPLASH / Representative Image)