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Economic Times
3 hours ago
- Business
- Economic Times
Crisis is good time to make changes in company: Nestle India CMD on lessons from Maggi fiasco
Crisis is a very good time to make changes in a company, jettison things that are not adding value and put those that serve the purpose, Nestle India's outgoing Chairman & Managing Director Suresh Narayanan said as he shared the lesson learnt from the Maggi crisis that hit the company a decade ago. Narayanan, who will retire at the end of this month after leading Nestle India for a decade and turning the company around from an existential crisis to a thriving business, in an interview with PTI said when there is "any movement in the environment, a company should be on top of it in terms of gauging how impactful it is going to be". The company's popular instant noodles Maggi was banned by the food regulator FSSAI in June 2015 for allegedly containing lead beyond permissible limits, forcing the company to withdraw the product from the market. Narayanan who was then serving as Chairman and CEO of Nestle Philippines, was immediately moved to India by the Swiss food multinational to handle the crisis. He joined Nestle India on August 1, 2015, as Managing Director, and Maggi was relaunched in November 2015, five months after the ban was lifted. When asked about what lessons were learnt from the Maggi crisis, he said, "Crisis is a very good time to make change. You can jettison all the things that are not serving the purpose of adding value to the consumer and put in things that add value to the consumer." Remembering his experience during the Maggi crisis, he said his first 100 days had been one of the greatest challenges of his career. "I came into Nestle at a very troubled time. It was probably the existential crisis that was happening. It was one of those situations where Maggi was at the centre of all the news in the business world of India," he noted. Recollecting the experience, Narayanan said, "A crisis of this kind is more than technical facts. It is perspectives and perceptions that matter. Our initial response was more on facts, whereas we underestimated that Maggi as a brand was so much more impactful with the consumers." Therefore, he said, "When we started the conversation, not only with the environment, but also with the media, we brought to bear the power of the brand and what we stood for as a company that is of the highest food quality and safety." Second one, Narayanan said, "I think we learned a lesson that any movement in the environment, a company should be on top of it in terms of gauging how impactful it is going to be." According to him, it was the trust of brand Maggi and the collective strength of its employees, partners, distributors, suppliers and consumers that helped the company bounce back with a renewed vigour. "We accepted the dictum that failing to succeed will help us to succeed," said Narayanan, often called the "crisis manager" of Nestle who steered Nestle from crises in several other markets such as Egypt and Singapore besides the Maggi incident in India. After the Maggi crisis, Nestle India quickened the pace of innovations, added Narayanan who is hanging his boots on Thursday after having a 26-year-long stint with the Swiss multinational Nestle. Elaborating further, he said, "We were an innovative company, but rather slow in innovation. So today we innovated about four times the rate of what we were doing pre-crisis. We have introduced almost 150 to 160 new products." Now the Rs 20,000 crore FMCG company is stronger, vibrant and connected, added Narayanan, It again got its pole position in the fast-growing instant noodles segment, where it still dominates with over 60 per cent market share from near extinction. "It's 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," said he noted. Nestle India's turnover is now about 2.5 times what it was in 2015 and our profits are about five times what it was in 2015, before the Maggi crisis. "Our market capitalisation is about 4 times what it was in 2015. Our number of shareholders is about 7 times," he said, adding, "our return of equity, which is a measure of the performance of the company went up from 19 per cent to almost 90 per cent." Overall, the proportion of new innovations, which was around 1 to 2 per cent of the turnover, went about 7 per cent now.
Mint
5 hours ago
- Business
- Mint
Crisis is good time to make changes in company: Nestle India CMD on lessons from Maggi fiasco
New Delhi, Jul 30 (PTI) Crisis is a very good time to make changes in a company, jettison things that are not adding value and put those that serve the purpose, Nestle India's outgoing Chairman & Managing Director Suresh Narayanan said as he shared the lesson learnt from the Maggi crisis that hit the company a decade ago. Narayanan, who will retire at the end of this month after leading Nestle India for a decade and turning the company around from an existential crisis to a thriving business, in an interview with PTI said when there is "any movement in the environment, a company should be on top of it in terms of gauging how impactful it is going to be". The company's popular instant noodles Maggi was banned by the food regulator FSSAI in June 2015 for allegedly containing lead beyond permissible limits, forcing the company to withdraw the product from the market. Narayanan who was then serving as Chairman and CEO of Nestlé Philippines, was immediately moved to India by the Swiss food multinational to handle the crisis. He joined Nestle India on August 1, 2015, as Managing Director, and Maggi was relaunched in November 2015, five months after the ban was lifted. When asked about what lessons were learnt from the Maggi crisis, he said, "Crisis is a very good time to make change. You can jettison all the things that are not serving the purpose of adding value to the consumer and put in things that add value to the consumer." Remembering his experience during the Maggi crisis, he said his first 100 days had been one of the greatest challenges of his career. "I came into Nestle at a very troubled time. It was probably the existential crisis that was happening. It was one of those situations where Maggi was at the centre of all the news in the business world of India," he noted. Recollecting the experience, Narayanan said, "A crisis of this kind is more than technical facts. It is perspectives and perceptions that matter. Our initial response was more on facts, whereas we underestimated that Maggi as a brand was so much more impactful with the consumers." Therefore, he said, "When we started the conversation, not only with the environment, but also with the media, we brought to bear the power of the brand and what we stood for as a company that is of the highest food quality and safety." Second one, Narayanan said, "I think we learned a lesson that any movement in the environment, a company should be on top of it in terms of gauging how impactful it is going to be." According to him, it was the trust of brand Maggi and the collective strength of its employees, partners, distributors, suppliers and consumers that helped the company bounce back with a renewed vigour. "We accepted the dictum that failing to succeed will help us to succeed," said Narayanan, often called the "crisis manager" of Nestle who steered Nestle from crises in several other markets such as Egypt and Singapore besides the Maggi incident in India. After the Maggi crisis, Nestle India quickened the pace of innovations, added Narayanan who is hanging his boots on Thursday after having a 26-year-long stint with the Swiss multinational Nestle. Elaborating further, he said, "We were an innovative company, but rather slow in innovation. So today we innovated about four times the rate of what we were doing pre-crisis. We have introduced almost 150 to 160 new products.' Now the ₹ 20,000 crore FMCG company is stronger, vibrant and connected, added Narayanan, It again got its pole position in the fast-growing instant noodles segment, where it still dominates with over 60 per cent market share from near extinction. "It's 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," said he noted. Nestle India's turnover is now about 2.5 times what it was in 2015 and our profits are about five times what it was in 2015, before the Maggi crisis. "Our market capitalisation is about 4 times what it was in 2015. Our number of shareholders is about 7 times," he said, adding, "our return of equity, which is a measure of the performance of the company went up from 19 per cent to almost 90 per cent." Overall, the proportion of new innovations, which was around 1 to 2 per cent of the turnover, went about 7 per cent now.
Time of India
5 hours ago
- Business
- Time of India
Crisis is good time to make changes in company: Nestle India CMD on lessons from Maggi fiasco
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Crisis is a very good time to make changes in a company, jettison things that are not adding value and put those that serve the purpose, Nestle India 's outgoing Chairman & Managing Director Suresh Narayanan said as he shared the lesson learnt from the Maggi crisis that hit the company a decade who will retire at the end of this month after leading Nestle India for a decade and turning the company around from an existential crisis to a thriving business, in an interview with PTI said when there is "any movement in the environment, a company should be on top of it in terms of gauging how impactful it is going to be".The company's popular instant noodles Maggi was banned by the food regulator FSSAI in June 2015 for allegedly containing lead beyond permissible limits, forcing the company to withdraw the product from the who was then serving as Chairman and CEO of Nestle Philippines, was immediately moved to India by the Swiss food multinational to handle the crisis. He joined Nestle India on August 1, 2015, as Managing Director, and Maggi was relaunched in November 2015, five months after the ban was asked about what lessons were learnt from the Maggi crisis, he said, "Crisis is a very good time to make change. You can jettison all the things that are not serving the purpose of adding value to the consumer and put in things that add value to the consumer."Remembering his experience during the Maggi crisis, he said his first 100 days had been one of the greatest challenges of his career."I came into Nestle at a very troubled time. It was probably the existential crisis that was happening. It was one of those situations where Maggi was at the centre of all the news in the business world of India," he the experience, Narayanan said, "A crisis of this kind is more than technical facts. It is perspectives and perceptions that matter. Our initial response was more on facts, whereas we underestimated that Maggi as a brand was so much more impactful with the consumers."Therefore, he said, "When we started the conversation, not only with the environment, but also with the media, we brought to bear the power of the brand and what we stood for as a company that is of the highest food quality and safety."Second one, Narayanan said, "I think we learned a lesson that any movement in the environment, a company should be on top of it in terms of gauging how impactful it is going to be."According to him, it was the trust of brand Maggi and the collective strength of its employees, partners, distributors, suppliers and consumers that helped the company bounce back with a renewed vigour."We accepted the dictum that failing to succeed will help us to succeed," said Narayanan, often called the "crisis manager" of Nestle who steered Nestle from crises in several other markets such as Egypt and Singapore besides the Maggi incident in the Maggi crisis, Nestle India quickened the pace of innovations, added Narayanan who is hanging his boots on Thursday after having a 26-year-long stint with the Swiss multinational further, he said, "We were an innovative company, but rather slow in innovation. So today we innovated about four times the rate of what we were doing pre-crisis. We have introduced almost 150 to 160 new products."Now the Rs 20,000 crore FMCG company is stronger, vibrant and connected, added Narayanan,It again got its pole position in the fast-growing instant noodles segment, where it still dominates with over 60 per cent market share from near extinction."It's 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," said he India's turnover is now about 2.5 times what it was in 2015 and our profits are about five times what it was in 2015, before the Maggi crisis."Our market capitalisation is about 4 times what it was in 2015. Our number of shareholders is about 7 times," he said, adding, "our return of equity, which is a measure of the performance of the company went up from 19 per cent to almost 90 per cent."Overall, the proportion of new innovations, which was around 1 to 2 per cent of the turnover, went about 7 per cent now.
New Straits Times
8 hours ago
- Business
- New Straits Times
Nestle Malaysia committed to quality despite rising costs
KUALA LUMPUR: Nestle (Malaysia) Bhd remains steadfast in its commitment to delivering quality and value to consumers, although global commodity price volatility continues to exert pressure on costs across the food and beverage industry. Chief executive officer Juan Aranols said the group is proactively working to cushion the impact of rising raw material costs, while ensuring product standards remain uncompromised. "When we have cost inflation, we try to mitigate the impact on our prices. "What matters most is that we continue doing our utmost to uphold quality and taste without compromise," he told the media during his visit to Balai Berita. Aranols noted that despite market pressures, the company remains committed to ensuring its products uphold the standards Malaysians have come to expect. "We know that choosing Nestle is always a good choice for Malaysians, because they can trust the products — how they are made, the ingredients that go into them and obviously the halal credentials," he said. He added that while cost pressures are inevitable in the current global environment, Nestle's priority is to ensure its offerings remain accessible and dependable. "We make sure that our products remain a great choice for Malaysians to make," he said.
Time of India
12 hours ago
- Business
- Time of India
Nestle India Share Price Live Updates: Nestle India faces a tough month with negative returns
Stay up-to-date with the Nestle India Stock Liveblog, your trusted source for real-time updates and thorough analysis of a prominent stock. Explore the latest details on Nestle India, including: Last traded price 2229.4, Market capitalization: 214399.63, Volume: 26007, Price-to-earnings ratio 68.99, Earnings per share 32.23. Get a comprehensive understanding of Nestle India with our coverage of both fundamental and technical indicators. Stay informed about breaking news that can have a significant impact on Nestle India's performance. Our expert opinions and recommendations empower you to make well-informed investment choices. Trust the Nestle India Stock Liveblog to keep you informed and equipped in the dynamic market landscape. The data points are updated as on 09:24:17 AM IST, 30 Jul 2025 Show more Show less
