Essel Propack has seen a change of possession within the final fiscal, after the worldwide non-public fairness main Blackstone picked up 75% stake within the firm for Rs 3,215 crore.
Since taking up from Ashok Goel, brother of Subhash Chandra, Blackstone has been on a lookout for a CEO for previous few months.
As per business sources, near a dozen CEOs had been shortlisted for the highest job.
Blackstone has additionally reconstituted the board with new unbiased administrators, by bringing in former PwC audit head Sharmila Karve, former Ranbaxy CEO Davinder Singh Brar and Uwe Ferdinand Röhrhoff, a German businessman and chairman of a number of European packaging companies.
Vats comes with over 28 years of expertise throughout FMCG and media sectors and his final stint was at media firm Viacom18.
Prior to his eight yr keep at Viacom18, the IIM A alumni spent greater than 20 years at Unilever in numerous gross sales and advertising and common administration roles.
The Unilever veteran left the corporate as the top of South Asia laundry enterprise and world head of the Radiant model.
