Boat elevates Vivek Gambhir as Chairman; co-founder Sameer Mehta names as CEO
Gambhir, in his new role as Chairman, will continue to guide the leadership team on matters of strategy, organisational development and culture and future growth roadmap. Co-founder Sameer Mehta will take on the role of CEO and Managing Director.
Friday March 17, 2023,
2 min Read
Earphones makeron Thursday said it has elevated CEO Vivek Gambhir to Chairman of the company.
boAT Co-founder Sameer Mehta will take on the role of CEO and Managing Director.
Gambhir, in his new role as Chairman, will continue to guide the leadership team on matters of strategy, organisational development and culture and future growth roadmap.
"We are now the number two company globally in the wearables (earwear and smartwatches) space in addition to being a leading brand in multiple categories in India. It is a matter of great pride that a brand born in India is now among the top brands in the world. And I am excited about the next phase of boAt, under the co-founders' visionary leadership," Gambhir said.
Mehta joined boAT in February 2021 as CEO from Godrej Consumers Products, where he served as Managing Director and CEO of the company.
"In early 2021, we approached Vivek to join and guide us in our scaling-up journey and prepare us to think and act like a bigger company rather than as a start-up. The past several years have been a period of significant learning and growth with Aman and I working closely with Vivek to run the company," Mehta said.
Consumer electronics company boAt Lifestyle posted its revenue from operations up by 118.67% and its profits down by 20.6% for the financial year ending March 2022.
The company reported revenue from operations of Rs 2,873 crore for FY 2022 as against Rs 1,314 crore in FY21. Its profit was Rs 68.70 crore when compared to Rs 86.50 crore a year ago, according to the Registrar of Companies.
(Disclaimer: Additional background information has been added to this PTI copy for context)