Suresh Narayanan is the chairman and managing director of Nestle India. He is credited for reviving the brand Maggi noodles.
Nestle India reported a profit of Rs 737 crore in its March quarter. The company, whose market cap is around Rs 1,99,477 crore, sold Rs 4808 crore worth of FMCG goods in these three months. Suresh Narayanan, the Chairman and Managing Director of the company, who spearheaded the company, said it is the highest growth in a quarter in over 10 years. On April 12, the company had declared a dividend of Rs 27 per share. The company's price yesterday was over Rs 20678. Who is Suresh Narayanan?
He is the chairman and managing director of Nestle India. He is credited for reviving the brand Maggi noodles that was facing public and institutional ire in 2015 after it was allegedly found to contain lead, a heavy metal not suitable for public consumption. He then took charge of the company's massive India business. He was faced with two daunting challenges -- revive the brand and boost the employee's morale. He instilled confidence in them and the idea that this time shall pass too. Since then, the company has faced several challenges but had a friend, philosopher, and guide in Narayanan.
In the last eight years, Nestle's market cap has risen four hundred percent, reported Forbes in 2022.
When he joined, apart from the Maggi crisis, he had many problems at his hands. The market penetration was low. The company was lagging behind innovation. He, however, asked the leaders to think about growth and focus on penetration.
Over the past eight years, the company has made several innovations on the product level, including introducing variants of the age-old Maggie. It also brought products like Oat Flakes, Nescafe Black Roast and Chicken65 Masala Noodles.
Per the magazine, he also introduced technology in the mix. He also introduced data-led decision-making and did away with hierarchy-led decision-making.
In 2019, the company adopted Project Midas, under which the company started making innovations and distribution in accordance with geography-centric data.
Using data crunching, the company can now target demographics on the basis of cities, localities, households and outlets.
Under him, the company also improved the supply chain, reported the company.
Inside the Nestle office, he is widely regarded as the people's person.
Suresh Narayan did MA from the prestigious Delhi School of Economics in 1981. He scored Grade A. He did his graduation from Shri Ram College of Commerce. This clearly shows that MBA from IIM or engineering from IIT aren't prerequisite to success.
The pay-package of Suresh Narayanan in 2021 was Rs 18.8 crore. His salary climbed to 9.3 percent compared to his 2020 salary. In 2020, he earned Rs 17.19 crore. In 2020, he became the highest paid executive in India.
In 2022, he earned Rs 17.7 crore.
Suresh Narayanan is also a member of the company's Corporate Social Responsibility. He did a Master's Degree in Economics from the DSE. He later completed a Diploma from the IMD Program of the London Business School. He was the chairman and CEO of Nestle's Philippines.
He first joined Nestle in 1999. He was the vice president for sales in India. He established the flavoured milk business. He returned to India in 2005 from Indochina business. He later became head of sales for India, Sri Lanka, Bangladesh and Nepal.
He became MD of Singapore in 2008. He was awarded the Medal of Commendation by the Government of Singapore in 2010.
Before that, he worked with Hindustan Unilever and Colgate Palmolive.
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 "Who is Suresh Narayanan? Suresh Narayan did MA from the prestigious Delhi School of Economics in 1981. (File)")
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