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Nestle India ED and CFO David McDaniel resigns
30-Sep-22   12:04 Hrs IST

McDaniel will be taking up a new assignment with a Nestlé Affiliate, the company stated.

Svetlana Boldina, currently Head of Finance and Control, Nestlé Indonesia, has been nominated to succeed David McDaniel as “executive director - finance & control and chief financial officer” effective from 1 March 2023, subject to approvals.

Svetlana Boldina is a Russian National having worked in the Nestlé markets in Russia, Eastern Europe and Indonesia with strong operational experience and an excellent track record in the Nestlé Group.

Nestle India manufactures internationally famous brand names such as Nescafé, Maggi, Milkybar, Kit Kat, Bar-One, Milkmaid and Nestea and in recent years the company has also introduced products of daily consumption and use such as Nestlé Milk, Nestlé Slim Milk, Nestlé Dahi and Nestlé Jeera Raita.

The company reported a 4.32% decline in net profit to Rs 515.34 crore on 16.1% rise in revenue from operations to Rs 4,036.57 crore in Q2 CY22 over Q2 CY21.

Shares of Nestle India were up 0.25% to Rs 19,026.80 on the BSE.

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