Food and beverages giant Nestlé has announced that Suresh Narayanan will replace Etienne Benet as the MD of Nestlé India. Narayanan will assume office on August 1, 2015. However, he will function as a designate and the proposal is subject to necessary approvals.
The new MD, Narayanan, joined the Nestlé Group in 1999 in India and began his international endevours in 2003 with South East Asia based assignments. From 2005 to 2008, he was the head of sales for Nestlé's South Asia Region, where he spearheaded strategic changes in sales and customer management. More recently, he was market head of Nestlé's North East Africa region, and has been credited for significant business growth in a volatile market environment by the company.
Narayanan is currently the chairman and CEO of Nestlé Philippines. He holds a Master's Degree in Economics from Delhi School of Economics and a diploma from the IMD Program for Executive Development.
Narayanan returns to his home country amidst one of the biggest crisis the company has faced since its presence in India. The company's popular instant noodle brand was tested to contain monosodium glutamate (MSG) and lead, in excess of the permissible limit. This led to a ban on the product in the country. Theereafter, the company also announced a country-wide recall of Maggi packs, costing them Rs. 320 crore.