Sanket Ray heads the India business for Coca Cola, which is currently valued around Rs 20,000 crore business.
Sanket Ray is leading one of the biggest success stories for Coca Cola across its different subsidiaries globally. He heads the India business, which is currently valued around Rs 20,000 crore business, combined with bottlers, according to a Business Today report. Ray is President, India and Southwest Asia for Coca Cola and has seen the India arm’s net profit climb 57% to Rs 722 crore in FY2023 from around Rs 460 crore in FY2022.
Ray, who reportedly jokes about his business strategy being “simple and boring”, took over as CEO in 2021 amid the Covid-19 pandemic after being elevated the previous year. He has led the company’s stellar revival, increasing sale points by 1.7 million. The India arm of Coca Cola saw Thums Up and Sprite cross billion dollars in revenue in 2022. It commands 60 percent share of the Indian fizzy drinks market which is estimated to be worth around Rs 50,000 crore, Business Standard reported.
Ray did his graduation in Engineering from Maulana Azad National Institute of Technology. He also holds a PGDM from the Xavier Institute of Management. After working with French MNC Lafarge as a senior manager, Ray joined Coca Cola in 2004 as regional logistics & planning manager (east). He then held key roles in operations and commercial aspects of the India business. This led to his elevation as regional head of commercial, South Asia in 2014. He has also served as the COO for mainland China and CEO of the Vietnam subsidiary for Coca Cola.
Under Ray’s leadership, Coca Cola India clocked net sales of Rs 4,521 crore for FY2023. This was a nearly 45 percent increase from FY2022 mark of Rs 3,121 crore. According to the company’s annual return in FY 2021-2022, Sanket Ray’s total remuneration stood at over Rs 9.9 crore (Rs 9,94,45,588). This included Gross Salary of Rs 6.3 crore (Rs 6,30,44,465) and Rs 3.64 crore (Rs 3,64,01,0123).
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