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Essel Propack has seen a change of ownership in the last fiscal, after the global private equity major Blackstone picked up 75% stake in the company for Rs 3,215 crore.
Since taking over from Ashok Goel, brother of Subhash Chandra, Blackstone has been on a lookout for a CEO for past few months.
As per industry sources, close to a dozen CEOs were shortlisted for the top job.
Blackstone has also reconstituted the board with new independent directors, 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 multiple European packaging firms.
Vats comes with over 28 years of experience across FMCG and media sectors and his last stint was at media company Viacom18.
Prior to his 8 year stay at Viacom18, the IIM A alumni spent more than 20 years at Unilever in various sales and marketing and general management roles.
The Unilever veteran left the company as the head of South Asia laundry business and global head of the Radiant brand.
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