MAM
Prasanth Kumar re-elected as president of AAAI
Mumbai: GroupM Media (India) CEO – South Asia Prasanth Kumar was re-elected as the President of Advertising Agencies Association of India (AAAI) for the year 2024-25 at its Annual General Body Meeting held in Mumbai.
Havas India, South East & North Asia (Japan & South Korea) group CEO Rana Barua was unanimously elected Vice-President of the Association.
Other elected members of the Board in alphabetical order are:
Madison Communications Pvt Ltd Sam Balsara Madison
Everest Brand Solutions Pvt Ltd Tanya Goyal
BEI Confluence Communication Ltd Tapas Gupta
Matrix Publicities and Media India Pvt Ltd Vishandas Hardasani
Havas Media India Pvt Ltd Mohit Joshi
Innocean Worldwide Communications Pvt Ltd Santosh Kumar
Crayons Advertising Pvt Ltd Kunal Lalani
Kinnect Pvt Ltd Rohan Mehta
Advertising Works Pvt Ltd, Cochin Chandramouli Muthu Maitri
Platinum Advertising Pvt Ltd Vikram Sakhuja
Standard Publicity Pvt Ltd Kalyan Sarkar
Advertising Pvt Ltd, Hyderabad, K Srinivas Sloka
Immediate past president, Anupriya Acharya will be the ex-officio member of the AAAI Board for 2024-25.
On this occasion, Kumar said, “I am deeply honoured by the trust AAAI members have placed in me for another term as President of this distinguished institution. Our commitment to championing innovation, upholding the highest standards of planning and creativity, and building on the momentum we have achieved remains unwavering. Our goal is to provide steadfast support to the entire ecosystem, helping the industry navigate challenges and seize new opportunities. With the exceptional team of AAAI members and the broader ecosystem, I am confident we will continue to shape the future of our industry to greater heights.”
Prasanth Kumar is a GroupM veteran having worked in the organisation in various capacities for over 20 years in his overall experience of over two decades in advertising. He has also worked at Pepsi, The Hindu, The Media Edge & McCann Erickson prior to joining GroupM. He has also been Vice President of AAAI during 2020-22.
On his appointment as vice president, Barua said “Being appointed Vice President of AAAI for the third time is both an honor and a testament to the trust the industry places in me. I look forward to continuing our efforts in driving innovation and excellence in advertising while supporting the growth of this dynamic industry.”
Some experienced persons will be inducted on the Board of AAAI and more positions filled up later on to make the Board broad-based.
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.
