Good Glamm Group overhauls organisational structure in the run up to the IPO

The Good Glamm Group, on Thursday, said it has re-hauled its organisational structure in a bid to create an agile organisational framework ahead of its IPO next year. The leading beauty and personal care company said this strategic initiative marks the culmination of the company’s final phase of team integration with a steadfast aim to be a profitable company in FY 25.

The Good Glamm Group, on Thursday, said it has re-hauled its organisational structure in a bid to create an agile organisational framework ahead of its IPO next year. The leading beauty and personal care company said this strategic initiative marks the culmination of the company’s final phase of team integration with a steadfast aim to be a profitable company in FY 25.

Also read:IPO screener: Vodafone Idea’s mega FPO opens today at ₹10-11 price bandIt added that the agile organisational structure has been created to focus on maximising value by minimising lags in execution and operations. It has also elevated several executives to new roles.

This includes Manan Jain being elevated to the role of Group Chief Operating Officer and Kartik Rao as Group Chief People Officer and SVP of Founder Initiatives. While Ketan Bhatia is taking over as Group Brand Director, Avalok Langer has been appointed as the Group Chief Creative Officer, among other elevations. Recently, the group had also announced the appointment of new Group CFO, Kamal Lath.

Run-up to IPOThis initiative includes “streamlining overall ways of working between departments by increasing cross-departmental responsibilities, faster decision making by empowering junior managers with controlled budgets and collapsing hierarchies and eliminating redundancies (people, process, and system) for reducing steps in execution and enhancing productivity,” it added.

“In the run-up to its IPO around Diwali 2025, the Group also announced a GlammSOP programme for its high-performing employees that allow for accelerated vesting of their ESOPs at the IPO. The GlammSOP programme will also have an additional target-based new ESOP pool being issued to senior management that also vest at the IPO,” the company added.

Also read:Bharti Hexacom jumps 43% on Day 1 of listingDarpan Sanghvi, Group Founder & CEO of Good Glamm Group, said, “With the Group on a distinctive growth trajectory and now approaching profitability, we are excited to unveil a systematic approach towards an Agile Organisational Framework that will allow us for faster execution in the run-up to our IPO”.

Like (0)
Previous April 19, 2024 5:00 pm
Next April 19, 2024 5:00 pm

Related posts

  • Xingrui Technology: Net profit in the first quarter of 2024 was 72.5838 million yuan, a year-on-year increase of 40.13%

    Xingrui Technology (002937) disclosed its first quarter report for 2024 on April 26. In the first quarter of 2024, the company achieved total operating income of 500 million yuan, a year-on-year increase of 4.06%; net profit attributable to the parent company was 72.5838 million yuan, a year-on-year increase of 40.13%; non-net profit after deducting 71.4041 million yuan, a year-on-year increase of 40.34%; generated from operating activities Net cash flow was 8.505 million yuan, a year-on-year increase of 705.42%; during the reporting period, Xingrui Technology\’s basic earnings per share was 0.24 yuan, and the weighted average return on net assets was 4.63%.

    free stock signals April 25, 2024
  • SEBI findings on Manpasand, Add Shop-E Retail are disturbing

    Two recent orders by market regulator, the Securities and Exchange Board of India, on Manpasand Beverages Ltd (MBL) and Add Shop-E Retail are disturbing and reveal how promoters can go to any extent to manipulate the company’s books to dupe the entire system.

    free stock signals May 10, 2024
  • Downward bias seen for Nifty, Sensex

    Domestic markets are set to open lower on Tuesday, amid mixed global markets. Reliance Industries will be in focus after the conglomerate beat fourth-quarter profit estimates. Besides ongoing corporate results, the expiry of F&O monthly contracts on the NSE will add to volatility, analysts said

    free stock signals April 23, 2024
  • DroneAcharya Aerial Innovations’ shares rise 2.4% after bagging new contract

    DroneAcharya Aerial Innovations has bagged a work order from Alter Dynamics & Artificial Intelligence, valued at AED 239,819.00 (₹53 lakh), for the use of drones in inspection of piles above water, catering to the requirements of Abu Dhabi National Oil Company (ADNOC).

    free stock signals May 7, 2024
  • India’s PC market grows 2.6% in Q1 of 2024, 3.07 million units shipped: Report

    India’s traditional PC market, including desktops, notebooks, and workstations shipped 3.07 million units in Q1 of FY24, registering a year-over-year (y-o-y) growth of 2.6 per cent, according to International Data Corporation (IDC) Worldwide Quarterly Personal Computing Device Tracker.

    free stock signals 2 days ago
  • Asian shares steady but Fed disappointment hits bonds

    By Stella Qiu SYDNEY (Reuters) –Asian shares steadied from a recent sell-off on Wednesday although investors remain wary after the world’s most powerful central banker had a change of heart on U.S. rate cuts this year, pushing Treasury yields to new five-month highs. Europe is set for a subdued open, with EUROSTOXX 50 futures flat on the day. U.S. stock futures slipped 0.1% after Wall Street finished the day lower. The dollar’s surprising resilience this year is causing discomfort in Asia’s currency markets. The beleaguered yen is plumbing fresh 34-year lows on an almost daily basis, the Chinese yuan is pinned near five-month troughs and Vietnam’s dong is at record lows. The New Zealand dollar gained 0.4% to $0.5902 after first-quarter inflation data showed domestically driven price pressures were surprisingly strong, adding to signs that the last mile to get inflation back to target could be bumpy. On Wednesday, MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.1%, after plunging more than 4% in the past three sessions. Japan’s Nikkei, however, dropped 0.8% to the lowest in two months….

    free stock signals April 16, 2024