Manu Anand, former region president, India and South Asia, at PepsiCo, is set to take over as the head of chocolate maker Cadbury India, three officials in direct knowledge of the development said. It is also learnt that Anand Kripalu, current MD of Cadbury India, is leaving the company to head the Indian arm of a leading liquor multinational. The spokesperson of Cadbury India said the company does not comment on speculation. “Anand Kripalu is MD & CEO of Cadbury India,” she said. Text messages sent by ET to both Anand and Kripalu remained unanswered. Kripalu was heading Cadbury India and South-East Asia before he was redesignated as India MD earlier this year. Cadbury’s operations in emerging markets were restructured earlier this year, with the parent company creating individual business units for India and China and dissolving the developing markets division. In India, Cadbury is a dominant player with over 65 per cent share in the chocolates category. Last year, the firm’s revenues went up 20.8 per cent to Rs 4,065 crore. ET had first reported in its June 27 edition that Manu Anand would be joining Mondelez (Cadbury Kraft) after working for almost two decades with PepsiCo. According to persons familiar with the development, Anand’s resignation from PepsiCo was accepted with immediate effect as the company’s global headquarters felt he was joining a direct competitor.
Both firms sell packaged snacks in many world markets. Cadbury and PepsiCo also sell powder drinks under their Tang and Tropicana brands, respectively. Anand, who joined PepsiCo in 1994 as CFO of Frito-Lay, PepsiCo’s foods division, was named MD of the foods business four years later. He moved to PepsiCo South-East Asia in 2007, and in 2011 succeeded outgoing chairman Sanjeev Chadha as president of PepsiCo India and South Asia. In another development, Vinod Rao, former CFO at PepsiCo Asia-Pacific, has been named finance director of the world’s largest liquor firm Diageo’s Asia-Pacific arm, with effect from July 15. A Diageo spokeswoman confirmed Rao’s appointment. “Vinod will be responsible for all aspects of the finance function comprising performance management, compliance, and regional strategy across the region,” she said in a statement.
- Nissan unveils Datsun ‘Go’ hatchback
- Discounts galore as car makers try to woo customers