Procter & Gamble Health Limited (P&G Health) has announced a significant leadership change in its finance department, with the resignation of its current Chief Financial Officer (CFO) and the appointment of a new executive to the role.

Lokesh Chandak's Departure

Mr. Lokesh Chandak, who has been serving as the Director & Chief Financial Officer of P&G Health, has tendered his resignation effective September 30, 2025. Chandak is set to transition to a new role within the broader P&G organization, taking on the position of Senior Director – Finance & Accounting for the Feminine Care division, overseeing Asia Pacific Enterprise Markets, Middle East, and Africa.

New CFO Appointment

The company has appointed Mr. Shashank Srowthy as the new Chief Financial Officer and Additional Executive Director, effective October 1, 2025. This appointment comes as part of P&G Health's strategic move to ensure a smooth transition in its financial leadership.

Shashank Srowthy's Profile

Mr. Srowthy brings a wealth of experience to his new role:

• Educational Background: Bachelor of Electronics & Telecommunication Engineering from Pune University and a Master of Management Studies from Jamnalal Bajaj Institute of Management Studies.
• Professional Experience: 14 years in various finance roles, with a significant tenure at P&G since 2011.
• Global Exposure: Has worked across multiple geographies, including India, Dubai, and Singapore, delivering notable results for various P&G businesses.

Appointment Details

The appointment of Mr. Srowthy as Executive Director is subject to several regulatory approvals:

• Approval from the Central Government, in accordance with Section 196 of the Companies Act, 2013.
• Shareholder approval at the ensuing Annual General Meeting.
• Allotment of Director Identification Number by the Ministry of Corporate Affairs.

Corporate Governance Compliance

P&G Health has confirmed that Mr. Srowthy meets all necessary qualifications for the role:

• Not debarred from holding directorship by any regulatory authority.
• Qualified to hold the office of Director under Section 164 of the Companies Act, 2013.
• Does not hold any shares in the company.
• Not related to any existing directors of the company.

Board Meeting Details

The Board of Directors of P&G Health convened a meeting on September 16, 2025, which lasted from 4:37 p.m. to 4:51 p.m., to approve these changes in leadership.

This leadership transition marks a significant moment for Procter & Gamble Health Limited as it moves forward with new financial stewardship. The company has expressed its appreciation for Mr. Chandak's contributions during his tenure and looks forward to Mr. Srowthy's leadership in driving financial strategy and growth.

Procter & Gamble Health Limited has successfully obtained stock exchange approval for a significant change in its shareholder structure. The company received the green light to reclassify three erstwhile promoter shareholders to public shareholders, marking a notable shift in its ownership composition.

Key Highlights of the Reclassification

• Reclassified Shareholders: Three former promoter entities have been moved to the public shareholder category:

  1. Emedia Export Company mit beschrankter Haftung
  2. Chemitra Gesellschaft mit beschrankter Hafiung
  3. Merck Internationale Beteiligungen GmbH

• New Promoter Structure: Following this reclassification, Procter & Gamble Overseas India BV emerges as the sole promoter shareholder.

• Shareholding Breakdown:

  Shareholder	Stake
  Procter & Gamble Overseas India BV	51.82%
  Public shareholders	48.18%

Timeline of the Reclassification Process

• June 2018: Procter & Gamble Health Limited initially applied for the reclassification.
• December 2018: The reclassification approval took effect.
• Recent Development: Stock exchange approval received, finalizing the reclassification process.

This reclassification represents a significant change in the company's shareholding pattern, streamlining its promoter structure while increasing the public shareholding percentage. The move could potentially impact the company's governance and decision-making processes, with Procter & Gamble Overseas India BV now holding the majority stake as the sole promoter.

Investors and market watchers may want to monitor how this change in shareholding structure might influence the company's strategic direction and operations in the coming months. However, as the reclassification has been in effect since December 2018, any major impacts may have already been absorbed by the market.