Jubilant FoodWorks Ltd on Friday said it has appointed Pratik Pota as its Chief Executive Officer designate to succeed the current CEO Ajay Kaul. Pota will join the company by end February 2017, and will assume the role and responsibilities as CEO and whole-time Director with effect from April 1, 2017, Jubilant said in a statement.
Pota, an alumnus of IIM Kolkata and BITS Pilani, joins the India’s largest food services company from PepsiCo India where he was Chief Operating Officer, Foods & Beverages (Company Owned Operations). Prior to this, Pota has held various leadership roles at Bharti Airtel and Hindustan Unilever. He has over twenty-four years of experience in FMCG and Telecom Industry, Jubilant said.
“We welcome Pratik to Jubilant, and are confident that with his rich experience and leadership, he will take the business to greater heights,” Jubilant FoodWorks Chairman Shyam S Bhartia and Co-Chairman Hari S Bhartia said.
Pratik Pota said, “I feel privileged and humbled to be given an opportunity to lead India’s largest food service company. The Indian food services industry is poised for rapid growth and JFL, being the frontrunner, is well positioned to leverage this opportunity. I look forward to be a part of this exciting journey.”
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The outgoing CEO Ajay Kaul had announced his resignation in September last year to pursue opportunities in CSR or private equity. It was Kaul who struck Jubilant’s exclusive deal with Dunkin’ Donuts.
Jubilant FoodWorks and other similar fast food companies are grappling with slowing sales for the last one-and-a-half years, as customers cut on discretionary spending.
Jubilant FoodWorks Limited (JFL/Company) is part of Jubilant Bhartia Group. It has a network of 1,085 Domino’s Pizza restaurants across 251 cities. Jubilant group has the exclusive rights to develop and operate Domino’s Pizza brand in India, Sri Lanka, Bangladesh and Nepal. At present, it operates in India and Sri Lanka. The company also has exclusive rights for developing and operating Dunkin’ Donuts restaurants in India and has launched 73 Dunkin’ Donuts restaurants across 23 cities in the country.
Jubilant FoodWorks shares ended 0.24% up at Rs 844.75 in a largely flat broader market.