Devyani International, the master franchisee for KFC and Pizza Hut in India, has appointed its Chief Financial Officer Manish Dawar as its next Chief Executive Officer.
Dawar, who joined the company in 2021, will assume the new role from April 1, taking over from Viraj Joshi, who will continue with the business as a non-executive director, according to media reports.
Alongside the leadership transition, Anupam Kumar, currently Executive Vice President Finance, will step into the role of CFO.
The announcement comes at a challenging time for the company, which recently reported a sharp rise in quarterly losses and unveiled a proposed $934-million merger with rival operator Sapphire Foods.
The management reshuffle signals a new phase for Devyani International as it navigates consolidation in India’s quick-service restaurant sector while dealing with financial pressures and an increasingly competitive market.