Brands
Leadership Change at Diageo India
MUMBAI: Diageo India, the nation’s leading beverage alcohol company, has announced a leadership transition. Praveen Someshwar, former MD and CEO of HT Media, will take over as CEO-Designate on 1 March 2025, succeeding Hina Nagarajan, who moves to a global executive role at Diageo globally.
Hina, who led Diageo India through a period of remarkable growth, credited with doubling its market capitalisation to over Rs 1 trillion, will step down on 1 April 2025. Under her tenure, Diageo India expanded its portfolio and bolstered its market share across categories.
Diageo chief executive Debra Crew said: “Under Hina’s leadership, Diageo India has combined strong top-line growth and margin expansion with impactful strategic initiatives, reshaping and premiumising our portfolio and positioning Diageo India as an innovative leader in the AlcoBev industry. As she moves on to a new role within Diageo, she leaves a significant track record of success and a highly engaged, talented and diverse team. Praveen joins us with an outstanding track record of leading consumer businesses, with a passion for both strategy and executional excellence that will serve us well as we plan for the next phase of Diageo India’s exciting growth story.”.
Praveen, bringing decades of leadership experience from HT Media and PepsiCo, expressed enthusiasm for steering Diageo India into its next growth phase.
USL chairman Mahendra Kumar Sharma lauded Hina’s legacy while welcoming Praveen’s strategic acumen.
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.
