Eureka Forbes appoints Pratik Pota as MD -; CEO; stock spurts ~4%

12 Jul 2022 , 09:19 AM

Eureka Forbes Limited informed that the board of directors of the Company, in their meeting held on July 11, 2022, has approved the appointment of Pratik Pota as Managing Director and Chief Executive Officer of the Company. His appointment is for a term of 5 years effective from August 16, 2022. However, his appointment is subject to the approval of the shareholders of the company.

Prior to this, Pratik was the CEO of Jubilant Foodworks Ltd., where he led the company to a comprehensive turnaround and transformation.

Pratik significantly accelerated the Domino’s franchise’s growth and increased EBITDA margins to record highs while at JFL. Under his leadership, JFL expanded its brand portfolio and entered new markets, including Bangladesh and Turkey. Pratik also led JFL’s major digital transformation, which helped Domino’s become India’s largest D2C brand. JFL’s market capitalization increased tenfold during Pratik’s tenure.

Pratik has held leadership positions in PepsiCo, Airtel, and Hindustan Unilever Ltd. prior to joining JFL, and brings over 30 years of rich experience to the company.

At around 9.23 AM, Eureka Forbes was trading 4.24% higher at Rs386.30, against previous close of Rs370.60 on BSE. It opened at Rs402 and touched intraday high of Rs407.80.