Nestle SA has announced its recommendation of Manish Tiwary, former head of Amazon India, as the new managing director for its Indian unit, Nestle India. Tiwary has been proposed as a successor to Suresh Narayanan, who is set to retire on July 30 after nearly a decade in the role. The board of Nestle India will need to approve Tiwary's appointment before he officially takes over.
Tiwary will require approval from the Nestle India board before assuming the role of managing director. He previously led Amazon.com’s India division for over four years, stepping down two months ago.
During his tenure, he played a pivotal role in driving the company's rapid growth, helping Amazon India surpass its domestic competitor, Flipkart, and solidify its position as the leading e-commerce platform in the country.
Tiwary, a key figure in Amazon India's rapid growth, played a pivotal role in helping the company surpass rival Flipkart in the country's e-commerce sector. Before joining Amazon, he spent time at Unilever, overseeing its Indian and Middle Eastern subsidiaries.
His deep experience in consumer goods and e-commerce makes him a strategic choice as Nestle grapples with stagnant sales in the world's most populous country.
Suresh Narayanan, the outgoing managing director, has held leadership roles in Nestle’s operations in the Philippines, Egypt, and Singapore. He will also step down as chairman of Nestle India, though the company has not yet disclosed his successor for the chairmanship. A company spokesperson told Reuters that the board will "deliberate at an appropriate time" on the matter.
The leadership transition comes at a challenging time for Nestle India, as the company recently posted its slowest revenue growth in eight years and missed earnings expectations for the quarter ended in June.
Shares of Nestle India are trading at Rs 2572.35 apiece, rising 0.03 per cent on the BSE on Tuesday.