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Nestle, Swiss multinational food and beverage company, will replace Etienne Benet, India MD, with Suresh Narayanan, chairman and CEO of NestlePhilippines. Narayanan is expected to take the new position next month, while Benet will be transferred to headquarters in Switzerland. The move follows Maggi controversy in the country.
Benet joined Nestle India in October 2013. He oversaw the company’s operations during Maggi crisis. The company may move more senior executives out of India soon. TOI quoted most of the Nestle India employees as saying that, “We are not surprised. It was a foregone conclusion. The news was doing the rounds in the company for two weeks. He did not handle the crisis the way it should have been done.”
Narayanan - New Nestle India MD
Narayanan holds a master's degree in economics from the Delhi School of Economics and a diploma from the IMD Program for executive development.
He is joining as the MD of Nestle India at the time of crisis, as FSSAI banned Maggi last moth for having lead and undeclared monosodium glutamate (MSG) in more than permissible amounts in Maggi.
"Narayanan will function as a designate. The proposal is subject to necessary approvals," Nestle India said in a statement on Friday.
Nestle fighting - FSSAI's ban on Maggi
Currently, Nestle is fighting over Maggi's ban and recall by FSSAI in the Bombay High Court. Meanwhile, it is considering to re-launch Maggi in a new avatar.
Due to the blanket ban, the company had to recall and destroy Maggi packets worth Rs 320 crore. Around 25% of Nestle India's annual revenues used to be contributed by the two-minute instant noodles.
-Sumana
