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Mint
a day ago
- Mint
‘Boss asked me to check horoscope', says Nestle India ‘crisis man' Suresh Narayanan, who dealt with 2015 Maggi fiasco
Branded as Nestle's 'crisis man' for his extensive experience navigating the company through some sticky situations, outgoing India CMD Suresh Narayanan believes that crisis present opportunities for growth. He also had words of advice to successor Manish Tiwary. Speaking to news agency PTI on his legacy, Narayanan noted that he had faced so many crisis at different stages with the company, that his 'boss' once asked him to consult his astrologer and check his horoscope. The report noted that Narayanan was an aspiring civil servant, who became an accidental corporate executive and eventually Nestle's 'crisis man'. Credited with steering Nestle India from the 2015 Maggi fiasco that led to an 'existential crisis' for the company, Narayanan's advice to successor Manish Tiwary is to remain vigilant as 'crisis does not come with a calling card'. 'There is opportunity even in crisis, and engaging with community, people and focusing on the goal of satisfying the consumer is a leadership I learnt from my experiences, including in Egypt,' he told the agency. Notably, Narayanan who also helmed Nestle Singapore during the Lehman Brothers collapse, and Nestle Egypt during the Arab Spring, shared that once his 'boss' asked him to consult his astrologer and check his horoscope. 'We don't like to invite a crisis. But when they happen, they become times when you can do a lot of revolution and a lot of reforms in the organisation. I think that has been the satisfaction,' he added on a serious note. Recollecting his 26 years in Nestle in various roles globally, Narayanan said, 'I have had a whole series of different crises.' He has built a reputation for managing the tough times, and called his stints as MD of Nestle Singapore, Chairman and CEO of Nestle Egypt Chairman and then CEO Head of NEAR along with Nestle India CMD as 'the defining movements' in his journey with the company. Narayanan termed the 2015 Maggi disaster in India a 'difficult time', but credited 'help and support of numerous colleagues, partners, and well-wishers, and the consumers' for helping the company stage a comeback. 'The only example of a brand that went from market leadership to death and back to leadership in three months' time and from then on, it has been a journey that has been upwards despite the crisis that we have faced,' he said. 'When I was posted as the Managing Director of Nestle Singapore, it coincided with the Lehman Brothers collapse. Singapore was the first country to go through a recession. I had a difficult and challenging task. They were holding the water for the company, in terms of the growth and profitability. That was a big challenge. We did well, but it was a challenge,' he recollected. Then he went to North Africa, Egypt, and everything was peaceful. But not for long. 'Within a few months, the Arab Spring struck. So the whole region, which I was responsible for — Egypt, Libya, and Sudan, went into turmoil. But again, I think one of the lessons I learned in leadership was that you really engage the community, engage with the people and you focus on the goal of satisfying the consumer, there is opportunity even in a crisis,' Narayanan said. He further said, 'We grew double-digit for five years in a row and we invested more in those five years than we invested in the previous 15. We were a company of choice for Egyptians. I think I had one of the best years of my career during that period.' After four months of leading Nestle in the Philippines, which was 'a peaceful and calm posting', Narayanan was called to India to bail out Nestle India from the Maggi crisis. When asked what advice he had for Tiwary, Narayanan was emphatic: 'The next crisis is always round the corner. So you cannot rest on your laurels and wish that nothing is going to happen. Something will happen — it doesn't come with a calling card. The next crisis is always around the corner and (it is important) to keep the organisation vigilant for such moments.' Manish Tiwary will take over as Nestle India CMD from August 1. An economics student at Delhi University, Naryanan said he had 'every intention of being a bureaucrat', but things changed when FMCG major Hindustan Lever (now HUL) came for campus placements. He added that the head of the placement committee convinced him to apply, 'and lo and behold, as fate was to beckon me, I got selected as a management trainee in the company'. He was 24 years old when he decided to go for the corporate world, Narayanan said, adding 'I have no regrets'. 'I tell young people that sometimes accidents happen in life and you have to learn to live with the circumstances and live with what fate holds for you rather than always trying to mould it,' said Narayanan.
Time of India
a day ago
- Time of India
'Premium pitch key growth pillar for Nestle India'
NEW DELHI: India is one of the fastest-growing markets for Swiss packaged foods giant Nestle globally, driven by the country's large consumption base, strong performance of core brands, and entry into new, high-potential premium categories, according to , the outgoing chairman & managing director of Nestle India. Tired of too many ads? go ad free now With a turnover of over Rs 20,000 crore and a revenue CAGR of just over 10% during the past decade, Nestle India is well-positioned to sustain its growth momentum, he said. Its strategy - anchored in premiumisation, faster-paced innovation, and a sharper focus on 'Rurban' markets through a consumer cluster-based approach - is expected to accelerate growth for the packaged foods company in a market which has been facing stubborn commodity inflation and a consumption slowdown, said Narayanan. "Premiumisation and innovation are the two key pillars of growth. Along with a focus on legacy brands like and KitKat, the company aims to deliver sustained growth. Since the Maggi crisis in 2015, Nestle recalibrated and rejuvenated its portfolio by launching over 150 new products, which now contribute 7% to sales. Innovation is now four times faster than it was a decade ago," he told TOI in an interview. Premium products contribute around 12% of Nestle India's sales, up from 10% in 2018, growing at a 16% CAGR since 2015. With a Rs 7,500 crore market opportunity, premiumisation is a key driver of growth and profitability. Nestle India's capital expenditure has risen from nearly 2% of sales in 2015 to 10% of sales in FY 2024-25 - a clear reflection of the company's growing confidence in the Indian market and its deepening focus on serving evolving consumer needs. Additionally, through a consumer cluster-based and 'Rurban' strategy introduced in 2019, the company strengthened its route-to-market, with its brands now reaching two out of three households, said Narayanan, adding this strategic agility, combined with deep consumer insights, positions Nestle well to capitalise on evolving market trends and shifting preferences. Tired of too many ads? go ad free now Responding to a question on the company's strategy of steering clear of mergers and acquisitions, he said, "We continue to explore good opportunities. But again, the question is one of valuation, potential, synergies, and growth opportunities that we see." India ranks among the top 10 global markets for the Switzerland-based Nestle and is the leading market worldwide for its flagship food brand Maggi, as well as the second-largest market for its confectionery brand KitKat.
Time of India
2 days ago
- Time of India
Legacy companies can no more think the small guy doesn't matter, says Nestle MD Suresh Narayanan
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New Delhi: Legacy companies "can no longer have the luxury of thinking that the small guy doesn't matter," Nestle India 's outgoing managing director Suresh Narayanan told ET in an interview, adding that gradual urban demand recovery is visible."These small guys are not saying 'I want to sell one million tonnes'; they're saying 'I want to sell in six localities, in three pin codes'," Narayanan said. Legacy companies "really have to learn to think of smaller scale, more nimble, profitable operations, because the large-scale opportunities such as creating another Maggi noodles are going to be very difficult." They need to do multiple small things and fast, he is retiring after steering the maker of Maggi noodles and Nescafe coffee in India for a decade. He will be succeeded by former Amazon India country head Manish Tiwary effective August comments come amid hundreds of regional and direct-to-consumer brands, ranging from noodles and tea to cosmetics and snacks, disrupting and taking share from large players, riding on lower prices, local innovation, and last-mile reach through quick commerce Chiefs of Tata Consumer Products ITC and HUL , too, have called out increasing competition from smaller brands over the past 12-15 months."The game is definitely changing; it's changing across the world," Narayanan said. "In some parts of the world, big brands are no longer the marquees of quality and consumption. It's the local brands, the house brands."1to3 noodles, Rungta tea, Balaji Wafers and Mario biscuits are among local brands disrupting the large brands. "It would be short-sighted for anyone to deny that in India there are pressure points being created locally; there are some good offerings that are being done," Narayanan said. "I tell my teams there are smaller companies who are more nimble footed rather than the big giants."The Rs 20,000 crore-plus Nestle India 's capex has increased from 1.8% of sales in 2015, to 10% in said regional competition is good for the industry. "It keeps companies from getting complacent," he said. "Yes, they're playing the pricing game but what we can bring to the table is much wider."Narayanan said "companies have to increasingly work on keeping their brands relevant," and stressed the need for accelerating premiumisation. While keeping affordability intact, there are "enough opportunities for premiumisation in chocolates, milk and nutrition, coffee, pet foods," he India unit of the Swiss foods maker reported a 5.9% year-on-year increase in revenue for the April-June quarter at '5,096 crore, while net profit declined 13.4% to '647 crore, impacted by elevated commodity Godrej Consumer Products Marico and Dabur are among the companies that have indicated sequential recovery in urban and rural markets going forward, aided by easing inflation, good monsoons and policy incentives, signalling some relief for the sector after five quarters of slowing demand."I think that the times ahead will be definitely better. How much better? It's difficult for me to say, but possibly the worst is behind us," Narayanan said. "Underlying signs such as moderating food inflation, the income tax benefit which should start to kick in, good monsoon and urban demand which had been in slumber for a long time are picking up," he of edible oil, cocoa and coffee have stabilised over the past quarter, providing some relief from steep inflation."In a global context, too, we seem to be one of the most stable economies, compared to many others," the Nestle India chief said. "Mega cities and metros are now starting to come back positively. Plus, infrastructure spending is high... So, all this is putting money where it matters."Meanwhile, recent weeks have seen a spate of leadership changes among large companies such as HUL and L'Oreal in India, and Diageo, Kenvue and WPP globally, amid tough market conditions and diminishing shareholder value Addressing a query on the unprecedented C-suite churn, Narayanan said with the markets in general now "a lot more brutal," the greatest skill for a CEO would be understanding the market, inspiring their people. "The CEO needs more courage, more communication, more confidence," he said. "Yes, competence is needed, but probably competence is not the number one quality that is required now."
