BackPratik Pota resigns as CEO, Jubilant FoodWorks Limited
Pota will continue in his current role till June 15, 2022. The Board has also initiated the process of identifying his successor, it added in its statement.
PremiumNEW DELHI : Pratik Pota has stepped down as the CEO and wholetime director of food services company Jubilant FoodWorks Limited (JFL), according to a filing made by the company to the exchanges. Jubilant operates Domino's Pizza and Dunkin' restaurants in India.
“We wish to inform you that the Board of Directors of the Company in their meeting held today i.e. Friday, March 11, 2022, accepted the resignation of Pratik Rashmikant Pota (DIN 00751178) as the CEO and wholetime director of the company as he wishes to pursue opportunities outside Jubilant FoodWorks Limited," the company said.
Pota will continue in his current role till June 15, 2022. The Board has also initiated the process of identifying his successor, it added in its statement.
“The Board places on record its sincere appreciation for the outstanding contribution made by Mr. Pota during his tenure with the Company and wishes him the very best in his future endeavors. The Board has also initiated the process of identifying his successor," according to the filing.
Pota joined the Board of Directors of Jubilant FoodWorks as chief executive officer and whole time director in April 2017.
He has well over two decades of experience in FMCG and Telecom. A graduate of BITS Pilani, he has a PGDM from IIM Kolkata. Prior to joining Jubilant Pota has held various leadership roles at Bharti Airtel, Hindustan Unilever and PepsiCo.
Incorporated in 1995, JFL holds the exclusive master franchise rights from Domino’s Pizza Inc. to develop and operate the Domino’s Pizza brand in India, Sri Lanka, Bangladesh, and Nepal.
In India, JFL has a strong and extensive network of 1,495 Domino’s restaurants in 322 cities. JFL also has the exclusive rights to develop and operate Dunkin’ outlets in India. It also has rights to operate Popeyes restaurants in India, Bangladesh, Nepal and Bhutan.
The company has been actively been expanding its business beyond the core pizza franchise. In 2019, JFL launched its first owned-restaurant brand ‘Hong’s Kitchen’ in the Chinese cuisine segment. In 2020, it launched Ekdum! another new owned-restaurant brand which serves Biryani category. The company has recently forayed into the ready-to-cook segment with its ‘ChefBoss’ range of sauces, gravies and pastes.
In the December quarter, the company acquired a 30.75% stake in Hashtag Loyalty Private Limited which operates an online food ordering platform—Thrive. Through its wholly owned subsidiary Jubilant Foodworks Netherlands B.V., the company further increased its equity stake in DP Eurasia N.V. to 40.29% through a combination of Reverse Bookbuild process and direct market purchases, it said.
The promoters of HT Media Ltd, which publishes Mint, and Jubilant Foodworks are closely related. There are, however, no promoter cross-holdings.
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