MAM
Alex Lubar exits DDB, steps in as Fundamentalco CEO
MUMBAI: Alex Lubar has stepped down as global CEO of DDB to take the helm at Fundamentalco, marking a fresh chapter in one of advertising’s most dynamic leadership journeys. He joins founder Jonny Bauer and what he calls “an immensely talented team” at a company he describes as “a truly unique operation that understands the power of brand-led value creation.”
In a warm message to his former colleagues, Lubar thanked the global DDB network for “the unbelievable community” he had the privilege of leading over the past two years. “Your creative genius is only outmatched by your collective grace,” he said.
Lubar’s move caps a career defined by steady ascent across some of the world’s most influential agencies. Before joining Fundamentalco in November 2025, he spent more than three years at DDB, serving first as global president and COO and later as global CEO.
His earlier chapter at McCann Worldgroup saw him rotate through major leadership roles, president of McCann North America, president of McCann Worldgroup Asia Pacific, CEO of McCann London, and global chief marketing officer. Prior to McCann, he sharpened his strategic and new-business skills at Grey, Bartle Bogle Hegarty, The Ad Store, and Rapp Collins Worldwide.
Lubar now steps into a role that gives him space to rethink, rebuild and reimagine. With a career shaped by bold choices and big impact, his next act at Fundamentalco looks set to be every bit as interesting as the ones before it.
Brands
Kwality Wall’s reports standalone losses following strategic HUL demerger
Ice cream major faces Rs 64 crore Ebitda loss amid commodity inflation and muted Q3 sales
MUMBAI: Kwality Wall’s (India) Limited (KWIL) has released its first set of financial results as a standalone entity, revealing a challenging start to its independent journey. Following its successful demerger from Hindustan Unilever Limited (HUL) on 1st December 2025 and its subsequent listing on 16th February 2026, the company is navigating a transition period marked by structural changes and high input costs.
For the quarter ended 31st December 2025, the company reported revenue of Rs 222 crores. Despite the revenue base, the bottom line was impacted by several factors, resulting in an Ebitda loss of Rs 64.2 crores. When calculated on a Pre-IND AS 116 basis, the Ebitda loss stood at Rs 83.8 crores.
Organic Sales Growth (OSG) declined by 6.5 per cent year-on-year during the quarter. Volume growth, however, saw a marginal increase of 1.2 per cent. The company reported a gross margin of 41.5 per cent. Additionally, exceptional expenses amounting to Rs 94 crores were recorded, primarily linked to non-recurring costs during the transition phase.
Performance across portfolios and channels was mixed. Within the impulse portfolio, brands such as Magnum and Cornetto recorded mid-single digit volume growth, indicating steady demand in on-the-go consumption. However, the in-home portfolio, which includes take-home packs, experienced muted consumption. The company is planning a relaunch of this category with improved offerings ahead of the 2026 season.
Quick commerce (Q-Com) continued to emerge as a strong growth driver, delivering robust double-digit growth during the quarter. Meanwhile, the company also expanded its physical distribution network by increasing the number of company-owned cabinets across markets.
Margin pressure during the quarter was driven by a combination of one-off factors and broader cost inflation. Gross margins were impacted by around 600 basis points due to trade investments made for stock liquidation. Additionally, cocoa price inflation contributed to another 400 basis points of pressure on margins.
Deputy managing director Chitrank Goel attributed the muted performance partly to prolonged monsoons and transitional challenges linked to the GST framework. Operating expenses also increased as the company invested in establishing its standalone supply chain, operational systems and corporate infrastructure following the demerger.
Looking ahead, the management remains focused on a volume-driven growth strategy. To restore profitability, the company has initiated a cost productivity programme aimed at reducing non-consumer-facing costs. It is also working on building regional manufacturing networks to optimise logistics expenses and improve operational efficiency.
The commodity outlook for the near term remains mixed. Dairy prices are expected to remain firm due to tight supply conditions and rising fodder costs. Sugar prices may also move higher following increases in the Minimum Selling Price (MSP). While cocoa prices have moderated recently, currency depreciation has offset some of the potential cost relief for the company.
