Suresh Narayanan is the current Chairman and Managing Director of Nestle India, and is widely recognized for his role in reviving the brand Maggi noodles.
Suresh Narayanan, the Chairman and Managing Director of Nestle India, is known for revitalizing the Maggi noodles brand. Under his leadership, Nestle India has achieved impressive financial results, including a profit of Rs 737 crore in the March quarter and selling Rs 4808 crore worth of FMCG goods. Narayanan has credited the company’s success to its highest growth in a quarter in over 10 years. On April 12, the company declared a dividend of Rs 27 per share, and as of the latest update, its market capitalization is around Rs 1,99,477 crore, with a share price of over Rs 20678.
Suresh Narayanan, the chairman and managing director of Nestle India, is known for his role in reviving the brand Maggi noodles. In 2015, the brand was facing public backlash after it was alleged to contain lead, a heavy metal unsuitable for consumption. Narayanan took charge of the company’s India business and faced two major challenges – reviving the brand and boosting employee morale. He instilled confidence in his team, reminding them that this too shall pass. Since then, the company has encountered several challenges, but Narayanan has remained a friend, philosopher, and guide to help navigate through them. Under his leadership, Nestle India reported a profit of Rs 737 crore in the March quarter and sold FMCG goods worth Rs 4808 crore. The company’s market cap is around Rs 1,99,477 crore, and on April 12, it declared a dividend of Rs 27 per share. With its stock price at over Rs 20678, Narayanan’s leadership has contributed significantly to the company’s growth.
According to Forbes’ 2022 report, Nestle’s market capitalization has increased by 400% in the past eight years.
Upon joining Nestle India, Suresh Narayanan faced numerous challenges including the Maggi crisis, low market penetration, and a lack of innovation. Despite this, he encouraged company leaders to focus on growth and increasing market penetration.
Over the course of the last eight years, Nestle India has made a number of innovations at the product level, such as introducing various new variants of the classic Maggi product. In addition, the company has launched new products like Oat Flakes, Nescafe Black Roast, and Chicken65 Masala Noodles.
According to Forbes, Narayanan also implemented technology in the company’s operations and introduced data-driven decision-making while doing away with hierarchy-based decision-making. In 2019, the company launched Project Midas, which focused on using data to inform product innovation and distribution strategies tailored to specific geographic regions.
The company’s supply chain was also improved under his leadership, according to reports. He is also known as a “people’s person” within the Nestle office.
In addition, through data analysis, the company is now able to target specific demographics based on cities, neighborhoods, households, and outlets, thanks to Narayanan’s focus on data-driven decision-making.
Suresh Narayan graduated from the esteemed Shri Ram College of Commerce and completed his MA from the prestigious Delhi School of Economics in 1981, earning a Grade A. This highlights that obtaining an MBA from IIM or an engineering degree from IIT is not a necessary requirement for achieving success.
Suresh Narayanan’s pay package in 2021 was Rs 18.8 crore, marking a 9.3 percent increase compared to his 2020 salary of Rs 17.19 crore. This made him the highest-paid executive in India in 2020. In 2022, he earned Rs 17.7 crore.
Suresh Narayanan is a member of the Corporate Social Responsibility team at Nestle. He obtained a Master’s Degree in Economics from DSE and completed a Diploma from the IMD Program at the London Business School. He previously served as the Chairman and CEO of Nestle Philippines.
Suresh Narayanan began his career with Nestle in 1999 as the Vice President of Sales in India, where he successfully established the flavored milk business. After serving as the Head of Sales for India, Sri Lanka, Bangladesh, and Nepal, he left India for Nestle’s Indochina business. In 2005, he returned to India and took over as the Managing Director. He was then appointed as the Managing Director of Nestle Philippines in 2008.
Prior to joining Nestle, Narayanan worked with Hindustan Unilever and Colgate Palmolive. He holds a Master’s Degree in Economics from the Delhi School of Economics and completed a diploma from the IMD program at the London Business School. Additionally, in 2010, the Government of Singapore awarded him the Medal of Commendation.