Diageo India, operating as United Spirits Ltd., has roped in Praveen Someshwar as CEO-Designate to replace Hina Nagarajan, who will step down after four years to assume new responsibilities within the group.
Someshwar will join in March but will formally take over from Nagarajan as managing director and CEO a month later, the owner of Johnnie Walker and Smirnoff said in a statement on Monday.
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For the last five years, Someshwar has been the chief executive officer and managing director of HT Media. Prior to that, he had a 24-year career with PepsiCo, working in a variety of general management, finance, and strategy roles in India and the wider Asia Pacific region.
Diageo Chief Executive Debra Crew said, “Under Hina's leadership, Diageo India has combined strong top-line growth and margin expansion with impactful strategic initiatives, reshaping and premiumising our portfolio and positioning Diageo India as an innovative leader in the AlcoBev industry. As she moves on to a new role within Diageo, she leaves a significant track record of success and a highly engaged, talented, and diverse team.
Nagarajan became the first woman to lead India's largest liquor company, with her strategy pivoting around reshaping the portfolio with a focus on premiumisation and encouraging consumers to "drink better, not more."
After selling 32 brands that made up 20% of sales and establishing a five-year franchise for 11 others, the premium portfolio now represents over 87% of total sales, up from 72% when she took over in 2021.
Nagarajan has also braved bureaucratic battles, often lobbying for a mechanism to allow pricing to rise with inflation as higher costs squeezed margins. Under her leadership, Diageo India temporarily suspended whisky sales in several states to budge on price caps. Diageo's challenges reflect a market where alcohol makers' face growth limitations due to tradition and taboo. Nonetheless, Nagarajan's own rise signals a gradual shift toward greater social acceptance of alcohol in parts of India.
“It has been a true privilege to lead Diageo India during a period of strong strategic progress and sustained, profitable double-digit growth for the business, with our market capitalisation growing to more than Rs 1 lakh crore ($12.5 billion). I wish all my Diageo India colleagues ongoing success and look forward to supporting them as they continue their work in building this fantastic business under Praveen's leadership,” Nagarajan said.
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