Home >companies >news >Manu Anand joins Cadbury India as managing director

Mumbai: Within a month of resigning as chairman of PepsiCo India Holdings Pvt. Ltd, Manu Anand has joined Mondelez International Inc. as president India and South Asia and managing director of Cadbury India, replacing Anand Kripalu who led the business for eight years, Mondelez International said on Thursday.

Kripalu has decided to pursue an assignment outside the business, the company said in a statement. Mondelez products include Toblerone chocolates, Tang powdered beverages and Oreo biscuits. Anand will also be part of the Asia-Pacific leadership team and will sit on the Mondelez International Leadership Council.

Under Kripalu’s leadership, revenue rose to more than 4,065 crore in 2012 from less than 746 crore in 2005.

In the past year at least half a dozen food and beverage consumer packaged goods companies in India have announced a top level management change. On 27 May, Britannia Industries Ltd, the maker of Good Day and Tiger biscuits, announced a recast. Former PepsiCo Food India chief executive officer Varun Berry was named to lead India operations while managing director Vinita Bali would focus on international business among other areas, the company said. Also on 24 May, Nestle India Ltd informed the BSE about a forthcoming change in management to take place in October. The maker of Maggi and KitKat plans to appoint the chief executive officer of Nestle Central and West Africa, Etienne Benet as its new managing director in place of Antonio Helio Waszyk.

Anand resigned from PepsiCo on 20 June after 19 years at the company. The maker of Kurkure, Lays and Tropicana juice is still to name Anand’s successor.

The changes come at a time when consumers have been cutting back on discretionary purchases and India’s economic growth has slowed to a decade low. “Overall discretionary spending has taken a hit, with families cutting down on out-of-home entertainment and expenditure. Consumers are also being cautious and are controlling expenses for essentials," Piyush Mathur, president, Nielsen India region, said in a statement on 23 July.

However, experts say its purely coincidental that five to six companies have had top management changes so close to each other. “There is no one theme. It’s a combination of reasons," said Shiv Agrawal, CEO, ABC Consultants Pvt Ltd.

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