MAM
FCB Kinnect elevates Elstan Rebello to executive vice president – South (branch head)
Mumbai: FCB Kinnect has announced the elevation of Elstan Rebello as executive vice president – South (branch head).
Elstan will now lead the South market, overseeing the creative, strategy, media, and account management departments, as well as manage P&L for this high-growth region.
Over his 4-year journey, Elstan has been instrumental in securing major clients such as TVS Motor Group, Titan, Intel, ITC Foods and Murugappa Group, among others. His exceptional client relationship skills have expanded the agency’s services by deepening and growing relationships with existing clients and adding new marquee clients to its portfolio.
Since joining FCB Kinnect in June 2020 as AVP – Account Management, Elstan has significantly contributed to building the culture of the Bengaluru-based office and growing the team to almost 100 Kinnectors.
With 16 years of industry experience, including roles at Network 18 and Condé Nast, Elstan’s strategic vision continues to drive FCB Kinnect’s success in the South market.
Speaking on the elevation, FCB Kinnect COO Chandni Mehta said, “As a truly integrated full-funnel agency, it is imperative for us to have an ambitious team leader to drive our momentum forward. Elstan’s ability to lead brands, deeply understand client requirements, and keep creativity at the core, aligns perfectly with our commitment to #OwnTheBrand. With his well-deserved elevation, we are excited to spearhead our market expansion and strengthen our relationships with existing clients in the South.”
FCB Kinnect EVP – South (branch head) Elstan Rebello added, “At Kinnect, the past 4 years have been defined by a relentless pursuit of excellence in communication integration. Leading initiatives across auto, luxury, FMCG, and technology sectors has been both challenging and immensely rewarding. As I step into this new role, my commitment remains steadfast: to propel us towards greater heights and amplify our impact through innovative and creative solutions.”
Brands
Magnum Ice Cream Netherlands takes control of Kwality Wall’s India from Unilever
61.9 per cent stake transfer reshapes ownership as Unilever exits promoter role
MUMBAI: Kwality Wall’s (India) Limited has entered a new chapter, with The Magnum Ice Cream Company HoldCo 1 Netherlands B.V. acquiring a controlling 61.9 per cent stake from a clutch of Unilever PLC-led entities, marking a significant shift in ownership.
The transaction, completed on March 30, 2026, follows a share purchase agreement signed in June 2025. The incoming promoter picked up over 145 crore equity shares, effectively taking control of the company and being formally classified as its new promoter under regulatory norms.
As part of the deal, the outgoing promoter group, including Unilever Group Limited and its affiliated entities, has fully exited its shareholding in the company. They have now been reclassified from promoter to public shareholders, closing a long-standing association with the ice cream business in India.
The board of Kwality Wall’s (India) Limited took note of the ownership change and approved a series of leadership updates alongside it. Ritesh Tiwari stepped down as director, while Abhijit Bhattacharya was appointed as chairperson and additional non-executive director. Tahir Toloy Tanridagli also joined the board as an additional non-executive director.
The reshuffle signals a broader strategic reset as the Magnum-led entity looks to steer the brand’s next phase of growth in India. The transition has been carried out in line with regulatory requirements, including disclosures tied to the open offer and reclassification norms under market regulations.
With Unilever stepping back and Magnum stepping in, Kwality Wall’s India is effectively getting a fresh scoop of leadership and direction. The coming months will reveal how the new promoter plans to scale the brand in one of the world’s most competitive ice cream markets.
