Future Consumer, the FMCG arm of the debt-strapped Future Group, said that Jude Linhares, an Executive Director of the company, resigned on Friday. It further added that he also ceased to be a ‘Key Managerial Personnel’ of the company.
“This is to inform you that Jude Linhares has resigned as an Executive Director of the company with effect from closure of business hours of April 15, 2022. Consequent to the same, he has also ceased to be a ‘Key Managerial Personnel’ of the Company,” it said on Friday.
Linhares has been on Future Consumer’s board for over three-and-half years. He has been working in the FMCG sector for last 28 years with organisations like Cadbury’s, Marico, Reckitt Benckiser, Dabur India and Dabur International.
Future Consumer, formerly known as Future Consumer Enterprise Ltd, is engaged in the business of sourcing, manufacturing, branding, marketing and distribution of fast moving consumer goods (FMCG) and processed food products in urban and rural India.
Future Group’s companies have been making severe losses. Its retail arm Future Retail was recently dragged to the NCLT over unpaid dues.
Future Consumer’s largest customer was Future Retail, and second largest customer was Reliance Retail. However, with Future Retail’s business being shrunk to half, Future Consumer too has been making losses.