Kwality Wall’s scoops up heavyweight board ahead of HUL split

MUMBAI: India’s soon-to-be-independent ice cream giant has lined up seven directors to steer its course after breaking free from Hindustan Unilever Ltd on 1 December. Kwality Wall’s (India) Ltd announced the heavyweight appointments on 23 November  signalling its readiness to compete as a standalone entity in the country’s fast-growing frozen desserts market.
The newly minted board brings together veterans from across consumer goods, finance and strategy. Ritesh Tiwari, global head of M&A, treasury and ventures at Unilever plc, joins as non-executive director. The 25-year industry stalwart previously served as executive director of finance and chief financial officer at HUL, where he championed digital transformation.
Two executive directors will drive day-to-day operations. Chitrank Goel, tapped as deputy managing director, brings over two decades in consumer packaged goods and 15 years specifically in ice cream, including stints at Unilever India and Europe before moving to Jubilant FoodWorks. Prashant Premrajka steps in as chief financial officer and executive director, armed with 22 years in consumer goods and previous experience as CFO of Kimberly-Clark Lever India.
The independent directors pack serious corporate firepower. Ravi Pisharody spent over a decade at Tata Motors, including as executive director, plus 18 years at Philips and eight at BP/Castrol. Madhavan Hariharan, group CFO at CK Birla Group, chairs the audit committee at Galaxy Surfactants. JV Raman logged nearly three decades at Unilever across multiple markets, heading businesses in Vietnam and Russia. Shukla Wassan brings three decades of expertise in strategic partnerships, mergers and acquisitions, and corporate governance across South Asia.
The board appointments follow the resignation of Toloy Tanridagli, who stepped down as additional non-executive director on November 21st citing professional commitments. The company also hired Vidhi Sanghvi as company secretary and compliance officer, effective December 5th, and appointed SN Ananthasubramanian & Co as secretarial auditors.
The demerger marks a strategic bet on focused value creation. Armed with marquee brands including Magnum and Cornetto, and backed by an expansive distribution network, Kwality Wall’s is positioning itself to accelerate growth in a category that’s heating up. The company will list on India’s two major stock exchanges in due course. For a business built on keeping things frozen, the pace is decidedly scorching.