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Business Standard
3 hours ago
- Business Standard
Crisis does not come with a calling card: Nestle MD Suresh Narayanan
An aspiring civil servant who became an accidental corporate executive and eventually Nestle's 'crisis man', Nestle India's outgoing Chairman and Managing Director Suresh Narayanan believes crisis does not come with a calling card and wants his successor to keep the organisation vigilant. In an interview with PTI before he hangs up his boots at the end of this month, Narayanan, who brought back Nestle India from an 'existential crisis' in 2015 after the Maggi fiasco to a thriving organisation, said there is opportunity even in crisis, and engaging with community, people and focusing on the goal of satisfying the consumer is a leadership he learnt from his varied experiences, including in Egypt. Having gone through crises, including leading Nestle Singapore during Lehman Brothers collapse, and Nestle Egypt during the Arab Spring, Narayanan quipped that once his "boss" asked him to consult his astrologer and check his horoscope. "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," he said on what would be his leadership advise to his successor. Manish Tiwary will take over as Nestle India Chairman and Managing Director from August 1. Recollecting his 26 years in Nestle in various roles globally, Narayanan said, "I have had a whole series of different crises." He termed his stints as Managing Director of Nestle Singapore, Nestle Egypt Chairman and CEO Head of NEAR along with Nestle India Chairman and Managing Director as "the defining movements" in his journey with the company. "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. "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 noted. Terming the Maggi crisis as a "difficult time", Narayanan gave credit to the "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. On how he entered the corporate world, Narayanan said, "It was more of an accident." "I was studying at the Delhi School of Economics pursuing master's in economics with every intention of being a bureaucrat after I completed my honours in economics from Delhi University. I had never given the CAT exam. So I was very clear that I wanted to be a bureaucrat because in the family, there were government servants. My father was one, my grandfather was one," he said, adding, "I always thought a career in the bureaucracy is what I should be pursuing." However, things started changing after FMCG major Hindustan Lever (now HUL) came for campus placements. "And that was the first time they came and I think it's also the last time they came because they realised what a mistake they had made in making a selection," Narayanan said in a lighter vein. The head of the placement committee cajoled him to apply for this, though he was not interested. "But he said, no, just apply for it and I went for it. And lo and behold, as fate was to beckon me, I got selected as a management trainee in the company," which was considered to be a very "coveted job" at that time. His father persuaded him to join HUL as he was getting a decent salary in a decent company. One of his uncles, who was an IAS officer, also convinced him. He was 24 years old then, 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.
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Business Standard
4 hours ago
- Business Standard
India is key driver of future growth for Nestle, says MD Suresh Narayanan
India will be a 'key driver of growth for the future' for Nestle which has "faith" in the market that offers a 'large consumption basket', according to Suresh Narayanan, the outgoing Chairman & Managing Director of its Indian arm. The economic and political stability offered by India coupled with 'high consumer resonance' of the company's brands make it an attractive market, he told PTI in an interview. The Swiss FMCG major, which had faced an existential crisis with the Maggi fiasco in 2015, has long left behind the chapter and is investing to enhance capacity, product innovations, expansion of sales network to digitisation for having a "value added journey", said Narayanan who will be retiring by end of July. "I can foresee that even if I am not there at the helm, but the market attraction, the levels of investment and the future of Nestle will continue to be bright in this country," he said when asked how he saw Nestle in the next five years in India. Elaborating, he said, "I think we will then become a much larger entity, a much more robust entity in terms of products that we have, a much more deeper entity in terms of the geographies and the manufacturing presence that we have, and overall, a much more impactful company than even what we are today. So by 2030 I think we will have a double-digit growth." Nestle India's compounded annual growth rate (CAGR) for the last 10 years has been about 10 to 11 per cent, and despite the current patch, which has not been good, particularly for most consumer goods companies in India due to consumption slow down in the urban market, Narayanan said, adding he expects to get back to double-digit growth path. "Consumption will come back in this country and I think we will get back to the double-digit growth," he said. Asked if he saw India becoming among the top five global markets of the Swiss FMCG giant Nestle SA in the coming years, Narayanan said, "India (market) is very well placed. India has had a very good track record." In the last 10 years, investment by Nestle India has gone up from about 2 per cent of sales to about 10 per cent of sales. "So it's been almost dramatic. Almost Rs 6,000 crore to Rs 6,500 crore is the amount of money that we have invested in creating new capacities," he said. This investment is because of two factors - the performance of the Indian market and, more importantly, the "faith in India" market of Nestle, he added. India offers a large consumption basket with economic and political stability, and the relative stature of the company is high in the country, he said, adding, "the consumer resonance is high for our brands and therefore, we look at India as a very promising market". He expects Nestle India to be a "more robust entity" in terms of its geographies and manufacturing presence, regaining its double-digit growth journey with a revival in the consumption cycle. When asked about the next phase of Nestle's growth in India, Narayanan said it will look to accelerate its penetration-led volume growth journey, which has yielded positive results for the company over the last decade. He expects Nestle India, which is now an over Rs 20,000 crore (nearly USD 2.5 billion) entity, to "become a much larger entity, a much more robust entity in terms of products that we have, a much deeper entity in terms of the geographies and the manufacturing presence" in the next five years by 2030. India is among the top ten global markets for the Vevey (Switzerland)-based company. It is a globally leading market for food brand Maggi and the second largest for its confectionery brand KITKAT According to Narayanan, Nestle's "thinking globally and acting locally" policy helps to customise offerings and to customise products to the local context. "A lot of investments are guided by three things, opportunity, salience and future growth and returns that you can get all these three, I think India satisfies the checklist extremely well. So that's why I have the confidence that India can continue to be like it is for many, for some companies, can be a key, key driver of growth for the future," he said. Nestle India, which has been present in India for over a century, is now setting up its tenth factory, which is coming at Odisha. Narayanan expects it to be operational in next couple of years. About the next phase of Nestle's growth in India, Narayanan said it will look at accelerating its penetration-led volume growth journey which has given positive results to the company in the last decade. Nestle under its 'Rurban strategy" will continue to expand its presence in the small rural markets, as rural India is opening up. Nestle India is creating infrastructure for the portfolio in order to increase the penetration of its brands. Besides, Nestle India is also increasing its play in the premium segment, which is having fast growth after the pandemic, with shift in consumer purchase behaviour towards more value-based products. "Premium products, which have been growing at about 16 per cent for us in the last 10 years, will continue to accelerate. Therefore, whether it is Nespresso or Nescafe Gold or premium chocolates or premium food items or premium nutrition items, these will get accelerated in the country," he said. Nestle will also amplify its activity in the digital and analytics side, which will take a "quantum leap". "We have already made progress, but I think there is a lot more that can be done in this field. The company is preparing itself for it," said Narayanan. Moreover, Nestle will continue to pursue innovation-led growth, which was paced up by the company after the Maggi crisis, which happened a decade ago. "Innovation, which is today at about 7 per cent (of sales), we hope will reach about 10 per cent of sales," he said.
Time of India
5 hours ago
- Time of India
India key driver of future growth for Nestle: Suresh Narayanan
India will be a 'key driver of growth for the future' for Nestle which has "faith" in the market that offers a 'large consumption basket', according to Suresh Narayanan , the outgoing Chairman & Managing Director of its Indian arm. The economic and political stability offered by India coupled with 'high consumer resonance' of the company's brands make it an attractive market, he told PTI in an interview. Explore courses from Top Institutes in Please select course: Select a Course Category Artificial Intelligence Degree PGDM Technology Public Policy healthcare Product Management Healthcare Leadership Operations Management Management Digital Marketing Data Science Data Analytics Data Science Others CXO Finance others Project Management MCA Design Thinking MBA Cybersecurity Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Exec Cert Prog in AI for Biz India Starts on undefined Get Details The Swiss FMCG major, which had faced an existential crisis with the Maggi fiasco in 2015, has long left behind the chapter and is investing to enhance capacity, product innovations, expansion of sales network to digitisation for having a "value added journey", said Narayanan who will be retiring by end of July. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo "I can foresee that even if I am not there at the helm, but the market attraction, the levels of investment and the future of Nestle will continue to be bright in this country," he said when asked how he saw Nestle in the next five years in India. Elaborating, he said, "I think we will then become a much larger entity, a much more robust entity in terms of products that we have, a much more deeper entity in terms of the geographies and the manufacturing presence that we have, and overall, a much more impactful company than even what we are today. So by 2030 I think we will have a double-digit growth." Live Events Nestle India's compounded annual growth rate (CAGR) for the last 10 years has been about 10 to 11 per cent, and despite the current patch, which has not been good, particularly for most consumer goods companies in India due to consumption slow down in the urban market, Narayanan said, adding he expects to get back to double-digit growth path. "Consumption will come back in this country and I think we will get back to the double-digit growth," he said. Asked if he saw India becoming among the top five global markets of the Swiss FMCG giant Nestle SA in the coming years, Narayanan said, "India (market) is very well placed. India has had a very good track record." In the last 10 years, investment by Nestle India has gone up from about 2 per cent of sales to about 10 per cent of sales. "So it's been almost dramatic. Almost Rs 6,000 crore to Rs 6,500 crore is the amount of money that we have invested in creating new capacities," he said. This investment is because of two factors - the performance of the Indian market and, more importantly, the "faith in India" market of Nestle, he added. India offers a large consumption basket with economic and political stability, and the relative stature of the company is high in the country, he said, adding, "the consumer resonance is high for our brands and therefore, we look at India as a very promising market". He expects Nestle India to be a "more robust entity" in terms of its geographies and manufacturing presence, regaining its double-digit growth journey with a revival in the consumption cycle. When asked about the next phase of Nestle's growth in India, Narayanan said it will look to accelerate its penetration-led volume growth journey, which has yielded positive results for the company over the last decade. He expects Nestle India, which is now an over Rs 20,000 crore (nearly USD 2.5 billion) entity, to "become a much larger entity, a much more robust entity in terms of products that we have, a much deeper entity in terms of the geographies and the manufacturing presence" in the next five years by 2030. India is among the top ten global markets for the Vevey (Switzerland)-based company. It is a globally leading market for food brand Maggi and the second largest for its confectionery brand KITKAT According to Narayanan , Nestle's "thinking globally and acting locally" policy helps to customise offerings and to customise products to the local context. "A lot of investments are guided by three things, opportunity, salience and future growth and returns that you can get all these three, I think India satisfies the checklist extremely well. So that's why I have the confidence that India can continue to be like it is for many, for some companies, can be a key, key driver of growth for the future," he said. Nestle India, which has been present in India for over a century, is now setting up its tenth factory, which is coming at Odisha. Narayanan expects it to be operational in next couple of years. About the next phase of Nestle's growth in India, Narayanan said it will look at accelerating its penetration-led volume growth journey which has given positive results to the company in the last decade. Nestle under its ' Rurban strategy" will continue to expand its presence in the small rural markets, as rural India is opening up. Nestle India is creating infrastructure for the portfolio in order to increase the penetration of its brands. Besides, Nestle India is also increasing its play in the premium segment, which is having fast growth after the pandemic, with shift in consumer purchase behaviour towards more value-based products. "Premium products, which have been growing at about 16 per cent for us in the last 10 years, will continue to accelerate. Therefore, whether it is Nespresso or Nescafe Gold or premium chocolates or premium food items or premium nutrition items, these will get accelerated in the country," he said. Nestle will also amplify its activity in the digital and analytics side, which will take a "quantum leap". "We have already made progress, but I think there is a lot more that can be done in this field. The company is preparing itself for it," said Narayanan. Moreover, Nestle will continue to pursue innovation-led growth, which was paced up by the company after the Maggi crisis, which happened a decade ago. "Innovation, which is today at about 7 per cent (of sales), we hope will reach about 10 per cent of sales," he said.
