Innovative fresh food brand iD Fresh Food kickstarts the New Year by accelerating its local-to-global strategy by strengthening its domestic and global leadership team. The company announced the appointment of industry veteran Rajat Diwaker as the India CEO. PC Musthafa, who led iD Fresh for nearly two decades, takes on the role of Global CEO while continuing to serve as the Chairman of the Board of Directors.
Musthafa will be responsible for global expansions, building food-tech capabilities, strategic acquisitions, inspiring organizational culture and driving iD Fresh’s innovations for the global market.
Rajat is an industry veteran with an illustrious career spanning over two decades in the FMCG industry. He has an outstanding track record of turning around businesses and delivering high-impact growth. In his last role, he served as the Managing Director of Marico Bangladesh Limited. He is also a director on the board of Foreign Investors’ Chamber of Commerce and Industry (FICCI) Bangladesh.
As part of its growth strategy, iD Fresh will also appoint dedicated Business Heads and CEOs for each International market. In fact, the company is in the process of hiring its US CEO. Currently, over a third comes from revenues outside India. The plan for 2024 is to enter new markets, such as Singapore and Australia, while expanding its footprints in the existing markets.
Commenting on the latest development, PC Musthafa, Global CEO, iD Fresh Food, said, “iD Fresh’s journey so far has been incredibly rewarding, and we continue to make tremendous strides. I am delighted to welcome Rajat Diwaker to the iD Fresh family. Under his able and forward-looking leadership, I’m confident that we will scale new heights and win more hearts in the years to come. And as we embark on new adventures, I am thrilled to lead the brand into new global markets, driven by the incessant consumer love that we have garnered over the years.”
Rajat will spearhead iD Fresh’s efforts to foster sustainable business growth and innovation, as the brand continues to achieve newer milestones in India. “I am very excited to assume this responsibility. It’s a privilege to lead a team that has set new benchmarks for innovation and business growth. My focus will be on accelerating innovation, portfolio expansion, widening distribution and expanding manufacturing footprint; thereby creating more value and impact on consumers, team members and shareholders alike,” said Rajat.
iD Fresh plans to roll out IPO over the next three to four years. In 2022, the company had raised INR 507 crore in Series D round of funding, in one of the largest deals in the food start-up space. The round was led by a global private equity firm focused on the Asia-Pacific region, along with the existing investor, Premji Invest. The company had recently announced the appointment of Megha Latawa as its Chief Human Resources Officer (CHRO) for India and international markets, and Enakshi Dasgupta as Head of New Business and New Product Development (NPD).
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