- Friday, May 03, 2024
Jaipuria’s son Varun is set to lead the food and beverages business, while Devyani, his daughter, will oversee healthcare and education endeavours.
By: Shubham Ghosh
INDIA’S ‘Cola King’ Ravi Jaipuria has reportedly solidified the succession plan for his $3-billion RJ Corp, home to Varun Beverages, PepsiCo’s second-largest bottler outside the US, and Devyani International, the operator of KFC, among other ventures.
According to a report by The Economic Times, India, Jaipuria’s son Varun is set to lead the food and beverages business, while Devyani, his daughter, will oversee healthcare and education endeavours.
“Succession planning at RJ Corp has been established, including a road map for Varun and Devyani to take on strategic leadership roles,” the report quoted Jaipuria, 69, as saying. The founder of the company added that daily operations will continue to be handled by professionals.
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Jaipuria, who returned to India after completing studies in the US in the mid-1980s to join the family business as a bottler for Coca-Cola, will remain RJ Corp chairman and look after overall growth, policies and expansion, it was added.
The company’s Varun Beverages and Devyani International are named after the founder’s children and are listed companies.
Varun assumed control of Varun Beverages and Devyani International, the latter managing Pizza Hut and Costa Coffee outlets across India.
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Devyani’s responsibilities extend to healthcare, overseeing ventures such as the maternity hospital chain Cocoon and stem-cell banking.
In education, she oversees Delhi Public Schools in cities such as Gurugram and Jaipur, along with DPS International School in Gurugram and Dharav High School in Jaipur.
“This framework is designed to ensure the company’s continuity and stability while infusing fresh perspectives into new leadership,” Jaipuria told the Times.
“Central to our strategy is the role played by our professional team, which manages the daily operational aspects. This blend of professional management and strategic leadership is key to driving RJ Corp forward, ensuring agility and innovation remain at the core of our operations,” he added.
In the December quarter, Devyani International recorded a consolidated profit of Rs 9.6 crore, marking an 87 per cent decrease compared to the same period last year.
Meanwhile, Varun Beverages saw a consolidated net profit of Rs 132 crore during the same period, representing a significant growth of 77 percent.
Devyani International reported a consolidated profit of Rs 9.6 crore in the December quarter, down 87 percent from the year-ago period.
Varun Beverages reported a consolidated net profit of Rs 132 crore during the period, a growth of 77 percent.
