Nestle India appoints new MD to gear up for Maggi comeback
Nestle India is all geared up for a Maggi comeback. At least, it seems like it at a higher level. Nestle India has announced that Suresh Narayanan will replace Etienne Bennet as India MD as Benet will be relocating to Switzerland, Nestle India’s head office.
Presently, Narayanan is the chairman and CEO of Nestle Philippines.
As per the company statement, Narayanan will function as a designate and the proposal is subject to necessary approvals. Previously, Narayanan was part of Nestle India after he joined in 1999 but moved to South East Asia in 2003.
Narayanan’s appointment comes at a crucial time for Nestle as they are facing a serious crisis after the Maggi ban. Maggi, the nation’s most popular noodle brand, raked in more than Rs 2,000 crore in annual revenue for the company. While that has stopped now, it spent Rs 320 crore to recall the product.
“The way the matter played out was unfair to Nestle. The company wasn’t given a chance to prove themselves,” Ashwin Bhadri, chief executive at Equinox Labs, which specialises in food testing and works closely with FSSAI on food safety compliance told ET Now.