MAM
Coca Cola India appoints John Ustas as CEO of bottling operations
MUMBAI: Coca Cola India has appointed John Ustas as the CEO of the company’s bottling operations with effect from 1 July.
This move has been made to help develop the company-owned organisations that will drive profitable growth, particularly in highly strategic and rapidly developing markets like India.
Ustas most recently served as managing director of Coca-Cola Drikker AS, the Norway bottling operations, where he led the creation of a strong, profitable bottler.
He has more than 23 years of experience in the beverage industry in the US and Europe and has a B.S. in finance from Northeastern University, an MBA from Pace University.
Ustas will work closely with the Coca-Cola India team and will report directly to Steve Buffington, regional director of Latin America and Asia for Bottling Investments.
“This move will help strengthen our management team in India and appropriately position us to capture a new level of success in one of our most important long-term growth markets,” a company statement said.
Vipul Saurabh, who is the current head of the company’s bottling operations in India, will work closely with Ustas over the next several months to ensure a smooth and successful transition.
Following this transition Saurabh will move to a challenging developmental role within our international bottling system, details of which will be announced at a later date.
Coca-Cola India is also on the lookout for a new chief financial officer (CFO). A company release informed that the changes to strengthen its finance team had been announced internally a month ago, when the present CFO Mark Roddy finished his tenure, who will move out in September. His replacement will be announced from Coca-Cola’s Atlanta headquarters.
The changes in the finance team will see Coca Cola India vice president finance – bottling operations Sanjeev Kumar moving to Atlanta, who will be executive assistant to Coke’s bottling investments president Irial Finan. Also, Coca Cola Zurich director finance Ravi Prakash has been brought back to the India operations.
Gaurav Duggal and Sunil Gupta have been promoted to deputy chief financial officers for the bottling operations.
“The company is fully Sarbanes-Oxley compliant, confirmed both by internal and external auditors as 31 December, 2004. The company regularly conducts internal audits of its operations, including financial and environmental audits,” the statement said.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
