India: United Breweries appoints new CEO and managing director from August this year

United Breweries, India’s biggest brewer that sells Kingfisher, has appointed Rishi Pardal as the new CEO and managing director from August this year. Pardal will succeed Shekhar Ramamurthy (58) who is due to retire from the company this July, stated a stock exchange filing, the Economic Times reported on March 18.

Pardal will join UB on June 12 in preparation for taking charge from Ramamurthy and familiarise with the business. He will hold office as MD for a period of five years which will be extendable based on approval of the shareholders thereafter.

Pardal’s last stint was as vice president and general manager at Avery Dennison Corporation, a Fortune 500 Company based out of Hong Kong. Prior to this role, he was the MD of Marico Bangladesh, following a 14-year career in sales and management roles with Hindustan Unilever. Pardal is an alumnus of the Indian Institute of Foreign Trade, New Delhi.

Shekhar Ramamurthy, who will retire on July 31, was with the UB Group for 31 years, of which, the last five years spent as its CEO and MD.

Heineken-controlled UB had reported a net profit decline of 2.56% at Rs 106.37 crore for the third quarter ended December, while net sales was impacted by economic slowdown and new excise policy in Andhra Pradesh.

17 March, 2020