 "Suresh Narayanan's leadership saw Nestlé India diversifying into categories like cereals and pet care")
Suresh Narayanan’s leadership saw Nestlé India diversifying into categories like cereals and pet care
Suresh Narayanan, chairman and managing director of Nestlé India, is set to retire on July 31 next year, marking the end of an era that began 26 years ago with the Nestlé group, a multinational giant in the food and beverage space. His tenure is perhaps most famously defined by his role in reviving the Maggi noodles brand.
When Narayanan stepped into leadership at Nestlé India in 2015, the company was facing criticism: the Food Safety and Standards Authority of India (FSSAI) had ordered a nationwide recall of the popular Maggi noodles due to high levels of lead found in the product. In the face of this challenge, Narayanan didn’t merely manage damage control; he spearheaded a comprehensive revival strategy that not only rescued Maggi but also restored its reputation. Today, Maggi remains a household name, firmly holding its ground as a leader in the instant noodle category.
Nestlé India, under Narayanan’s stewardship, has embarked on a journey of rebuilding its image. Experts attribute much of this success to his adept handling of government relations and the launch of innovative products that emerged in the wake of the Maggi episode. His leadership saw Nestlé India diversifying into new categories, including cereals and pet care, broadening the company’s portfolio and market presence.
An industry source described Narayanan as a “steady hand” who infused “maturity “into the crisis management process. “He put Nestlé India back on the map in the noodle market and also regained its pole position in the category,” the source noted, emphasising the depth of his impact.
Throughout his career with the Nestlé group, Narayanan has held numerous international leadership roles, spanning markets — Thailand, Cambodia, Myanmar, Laos, Vietnam, Singapore, Egypt, and the Philippines. His current portfolio also encompasses the responsibility of Nepal, Bangladesh, Sri Lanka, and the Maldives.
The financial numbers paint a compelling picture of Narayanan’s tenure. Under his leadership, Nestlé India’s profit after tax surged nearly seven-fold, reaching Rs 3,933 crore in FY24 (this period marked the company changing its financial year calendar from January-December to April-March, resulting in a five-quarter financial year). Additionally, the company’s market capitalisation surged from Rs 57,619 crore in August 2015 — when he assumed the reins — to Rs 2,47,933 crore as on October 7.
First Published: Oct 07 2024 | 11:48 PM IST
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