Pidilite's 2015 handover to professional CEO Bharat Puri and the growth that followed

Pidilite Industries, India's largest adhesives maker and owner of Fevicol, was run by the founding Parekh family since 1959. In 2013 chairman and MD Madhukar Parekh, son of founder Balvant Parekh, offered Bharat Puri — then Mondelez International's Zurich-based president for global chocolate, gum and candy, and earlier head of Cadbury India — the post of the company's first non-family head. Puri had been an independent director on Pidilite's board since 2008 and knew both the Indian FMCG market and the company's values.

In April 2015 Puri became Pidilite's first professional managing director, while Madhukar Parekh moved to executive chairman and the family stepped back from day-to-day control. Puri deliberately did not try to change the culture; instead he built on the existing formula of brand-building, innovation and close customer relationships, adding a global growth strategy with Bain & Company, waterproofing acquisitions such as Nina Waterproofing and Percept Engineers, and a replenishment-driven supply chain run on handheld devices.

The bet paid off quickly. For the year ended March 2016, Pidilite recorded revenue of Rs 5,369.45 crore, up 11% year on year, net profit up 47% to Rs 755 crore, and operating margins around 19%. Puri went on to serve a full decade as MD until April 2025, when the company, again with a planned succession, handed the role to internal professional successor Sudhanshu Vats — evidence that professional leadership had become institutional rather than a one-off experiment.

FY16 revenue up 11% to Rs 5,369 crore, net profit up 47% to Rs 755 crore, operating margin near 19%; Puri served a full decade as MD

It shows a rare, peaceful founder-to-professional succession at a large Indian family-run listed company.

The family chose an outsider with global FMCG credentials but an eight-year board relationship, blending fresh skills with cultural fit.

Results were immediate: 47% net profit growth and ~19% operating margin in the first full year under the professional MD.

The transition proved durable — Puri completed a ten-year term and was succeeded by another professional, not a family member.

Pidilite kept its culture and employee-retention ethos while upgrading strategy, supply chain and global ambitions.

A founder family that hands day-to-day control to a proven outsider, while keeping the culture intact, can professionalize without breaking what made the company great.

Puri's decade as MD ended in April 2025 with a planned handover to Sudhanshu Vats, with Puri moving to a non-executive director and senior advisor role. Executive chairman M. B. Parekh credited him with substantial progress and significant shareholder value creation. The episode became a template for how Indian promoter families can professionalize management without surrendering ownership or identity.