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Business News/ Companies / People/  United Breweries names Vivek Gupta as MD and CEO, stock jumps 5%

New Delhi: United Breweries Limited (UBL), part of the Heineken Company, has appointed Vivek Gupta as managing director and chief executive, effective 25 September, the brewer said in a filing to the exchanges Thursday.

Gupta has spent over two decades in leadership and commercial roles at P&G, working across various categories, from everyday consumption to premium categories. His last position with P&G was as managing director of Australia and New Zealand. He joins UBL from business-to-business platform Udaan.

Along with the UBL leadership team, Gupta will be responsible for driving sustainable growth for the company. He will lead the premiumization of UBL’s portfolio, including strengthening the iconicity of Kingfisher.

“We are thrilled to have Vivek lead UBL at such a critical time. We recognize his resilience in building businesses and brands at a fast pace and in a complex environment. He brings solid global experience deeply rooted in India and has had substantial success in commercial and complex companies in traditional and digital environments," Jacco van der Linden, Regional President APAC of HEINEKEN, and Member of the UBL Board, said.

Gupta’s appointment comes after the resignation of Rishi Pardal on 16 February followed by a six months’ notice period. The company has since had a vacuum in top management. Gupta shall hold office as MD and CEO for a period of five years, extendable thereafter subject to approval of the shareholders, the company said in its filing.

Gupta (47) is an engineering graduate with a Master’s in business management from IIM, Ahmedabad.

UBL is India’s largest brewer.In FY23, the maker of Kingfisher beer reported standalone revenues of 16,692 crore.

The United Breweries share price jumped on Thursday after the announcement. At 3 pm, the stock was trading at 1,663.90, up 83.45, or 5.28%. The United Breweries shares touched a high of 1,673.15 and a low of 1,570.35 during the day.

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Updated: 07 Sep 2023, 02:02 PM IST
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