V Chandramouli ex MD of Mondelez joins Pidilite as CEO

MUMBAI: V Chandramouli ex MD of Mondelez has joined adhesives major Pidilite as CEO of one of its multiple businesses.
Pidilite has around six or seven CEOs heading various businesses and Chandramouli will head one of them top officials told ET.

Chandramouli who joined a month back has yet to be assigned his portfolio.

Chandramouli quit Mondelez in mid-2016 and has been roped in by his former boss Bharat Puri to join Pidilite which has moved from a promoter-led to a non-family led professional organisation.

Bharat Puri ex Mondelex talent had earlier been hand-picked by the promoter of Piidilte to take charge as MD in 2015. He the first outsider to occupy the corner office and with the help of consultant Bain is helping the company recraft a medium-term global growth to be an Indian MNC with an emphasis on emerging markets.

Puri has also a new team backing him with a new CFO CHR..both from Pepsico and Cadbury.

The Pidilte family members are out of operational roles and has ensured a collective and shared leadership.

Pidilite's sales have more than doubled to Rs 4844 crore in five years with profits rising by 88 per cent to Rs 508 crore. The Pidilite stock has declined by 7 per cent in the past year, compared to 14 per cent fall registered by the BSE Sensex.. "

Pidilite is largely known for its brand prowess in adhesives through the ubiquitous Fevicol brand, we note that adhesives plus sealants account for ~50 per cent of consolidated revenue. The company has created additional growth drivers in the last five years through its foray into construction chemicals (20 per cent of consolidated revenue) and augmented its presence through new launches.

As a business family, the Parekhs of Pidilite Industries- the maker of Fevicol - have done pretty well for themselves. Pidilite's sales have doubled to Rs 3,878 crore in five years with profits rising by 60 per cent to Rs 469 crore.

Brand Fevicol has become synonymous with glue; new variants like Fevistik for paper glue and Fevikwik, an instant, one-drop adhesive have done well giving the brand entry into one million retail outlets.

M B Parekh said it was the family decision that none of them should be operational roles except if a situation demands it. Our roles will be to help with strategy talent and values," he adds.

With this, all five members from three generations of the Parekh family have withdrawn from the management. M B Parekh, chairman and managing director step down in April 2015 to be executive chairman, while Mr N K Parekh, joint-managing director, stepped down to become non-executive vice-chairman.