Capital Foods, maker of Ching’s Secret and Smith & Jones brands, on Monday named Navin Tewari as its new managing director and chief executive officer.
Tewari succeeds Ajay Gupta, who will now be non-executive chairman, the company said in a statement.
The elevation comes at a time when the packaged foods sector is seeing heightened interest from investors and surge in sales, fuelled by rapid increase in in-home consumption.
About Company
Capital Foods was created on the foundations of innovation, excitement, and a deep understanding of consumer taste preferences.
Capital Foods is backed by marquee private equity firms, The Invus Group and General Atlantic.
Over the years, we have built a loyal consumer base that loves our range of exciting food products.
Capital Foods is the parent company of Ching’s Secret and Smith & Jones with several food products across categories like frozen food, ready-to-eat, instant snacking, cook ups, and spices and condiments.
Date of undertaking
The new position of Navin Tewari will be effective from the beginning of a new year, i.e January 1, 2021.
Existing Role
Tewari has been associated with the company since early 2019 in the role of chief executive officer.
Under his leadership, the company has achieved well-rounded performance with – top-line growth in excess of 50%; expansion beyond the western region to a pan-India presence across categories.
Comment from Non-Executive Chairman
Ajay Gupta, “Since his joining Navin has rapidly built and grown the scale of the company while preserving the culture and strengthening partner relationships.
I am certain that going forward Capital Foods will flourish under his leadership and contagious enthusiasm,”
Comment from Managing Director
Shantanu Rastogi, Managing Director, India, and South-East Asia at General Atlantic, said: “Capital Foods has registered impressive performance under Navin’s leadership as CEO.
The company is at an inflection point of growth, and we are very excited to have Navin lead the company in his new capacity as the MD, to continue Capital Food’s journey of growth and innovation.”
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