Devyani International, one of India’s largest franchisees of KFC and Pizza Hut, has appointed its Chief Financial Officer Manish Dawar as Chief Executive Officer and President, effective April 1.
Dawar, currently CFO and whole-time director, will succeed Virag Joshi, who will step down from executive responsibilities and continue on the board as a Non-Executive Director and strategic advisor, the company said on Wednesday.
Dawar joined Devyani in 2021 and brings over three decades of leadership experience, with senior stints at Vodafone India, Vedanta, Reckitt Benckiser and Reebok. He began his career at Hindustan Unilever.
The company also elevated its Executive Vice President–Finance, Anupam Kumar, as Chief Financial Officer. Kumar previously worked with Vedanta and Walker Chandiok & Co before joining RJ Corp.
The leadership changes come as Devyani moves ahead with a proposed merger with rival Sapphire Foods, a deal that could reshape India’s quick-service restaurant landscape by creating one of the country’s largest QSR players.
Devyani reported an 11 per cent year-on-year rise in quarterly revenue on Wednesday, driven by strong demand for discounted menu offerings. Shares of the company climbed nearly 5 per cent during the session.
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