In a filing to the BSE, Nestle India said that the board of directors’ meet on October 29, has appointed Suresh Narayanan, the company’s current managing director, as the chairman of the company.
The appointment was made after the company’s current chairman, Antonio Helio Waszyk retired on October 1 this year.
Narayanan was appointed in the wake of the Maggi noodles scandal after the company’s then managing director Etienne Benet was called back by the parent company.
The BSE filing read, “Narayanan has extensive and senior management experience, both in India as well as International markets.”
Before being chosen for the India operations, Narayanan was the Chairman and CEO at Nestle’s Philippines operations. He took control in India on August 1.
On Thursday, Nestle India recorded its second quarterly loss in nearly 30 years, with the company’s standalone net profit falling 60.1% to Rs 124.20 crore compared to a net profit of Rs 311.29 crore recorded in the same period last year.
The FSSAI had struck a ban Maggi noodles in June, calling it “unsafe and hazardous” for consumption after lead levels were found beyond permissible limits. However, the company has now resumed production at three of its eight plants in India.