Kolkata, July 21, 2017: Future Group’s head of food, FMCG and brands, Devendra Chawla, has resigned from the retailer, two senior industry executives said. The resignation comes at a time when he was engaged in building the group’s portfolio of brands through Future Consumer, to sell those via other retailers and kirana stores just like any other FMCG company.
Chawla was also the chief executive at Future Consumer. The leading brands he handled include Tasty Treat, Sunkist, Karmiq, Sangi’s Kitchen, Kara and Clean Mate, which are sold through 52,000 outlets across India. Future Consumer turned profitable for the first time in fiscal 2016-17 with a Rs 7.78 crore net profit, with revenue growing 39% to Rs 1,645 crore.
Chawla is serving his notice period till July 31. The Future Group has yet to identify his successor, an executive said. Sadashiv Nayak, a member of the group’s strategic team, will manage Chawla’s roles till a successor is identified from within the group, he said.