Mumbai: Devyani International, the India franchisee of global quick-service restaurant brands KFC and Pizza Hut, has announced a key leadership transition with its Chief Financial Officer Manish Dawar set to take over as Chief Executive Officer from April 1.
Dawar, who joined the company in 2021 and has been overseeing its financial strategy, will succeed Riya Jash. Jash will continue to be associated with the company as a non-executive director, Devyani International said in a statement, according to media reports.
Alongside the CEO appointment, the company has elevated Anupam Kumar, currently Executive Vice President – Finance, to the role of Chief Financial Officer.
The leadership reshuffle comes at a time when Devyani International is navigating financial pressures. The company recently reported a sharp rise in its quarterly losses amid a challenging operating environment.
In a separate strategic move, Devyani International has also announced a $934 million merger with Sapphire Foods, a deal aimed at strengthening its scale and competitive position in India’s fast-growing quick-service restaurant market.
