Future Consumer, the FMCG arm of the debt-strapped Future Group, said Jude Linhares, the company’s chief executive, resigned on Friday. He further added that he also ceased to be a “key management personnel” of the company.
“This is to inform you that Jude Linhares has resigned as Executive Director of the Company effective at close of business on April 15, 2022. Accordingly, he also ceased to be a ‘Key Management Personnel’ “of the Society,” he said on Friday.
Linhares has served on the board of directors of Future Consumer for more than three and a half years. He has worked in the FMCG sector for 28 years with organizations such as Cadbury’s, Marico, Reckitt Benckiser, Dabur India and Dabur International.
Future Consumer, formerly known as Future Consumer Enterprise Ltd, is engaged in the sourcing, manufacturing, branding, marketing and distribution of Fast Moving Consumer Goods (FMCG) and of processed food products in urban and rural India.
Future Group companies suffered heavy losses. Its retail arm Future Retail was recently dragged before the NCLT over unpaid dues.
Future Consumer’s largest customer was Future Retail, and the second largest customer was Reliance Retail. However, with Future Retail’s business cut in half, Future Consumer also suffered losses.
April 15, 2022