Food services company Jubilant FoodWorks Ltd (JFL) on Monday appointed Sameer Khetrapal as its new CEO and Managing Director for a period of five years beginning September 5. Kheterpal to replace Prateek Pota, joins JFL from e-commerce company Amazon.
Over the past six and a half years at Amazon, Kheterpal has conceptualized, launched and expanded multiple businesses such as Amazon Fresh, Amazon Food and Amazon Pharmacy. Prior to Amazon, Kheterpal worked as a partner at McKinsey & Company. An alumnus of the Indian School of Business (ISB), Khetarpal has also worked with GE Capital and Hindustan Unilever Ltd.
JFL operates the Domino’s Pizza and Dunkin’ brands in India.
“We are now a multi-country, multi-brand company with a deep investment in technology. We look to further our investments across our portfolio of brands to become a food tech powerhouse. Co-Chair and Green of Jubilant FoodWorks S Bhartia said, SAMEER will provide the necessary leadership to our business with his strength in building Digital First Business in respective locations.
Khetarpal said, “As India’s largest food service company, JFL is uniquely poised to scale non-linearly across multiple businesses and geographies. The company has an exceptional track record of innovating and serving customers with exemplary standards.”
On Monday, the company informed exchanges that Jubilant Foodworks Netherlands BV, a wholly owned subsidiary, has increased its stake in DP Eurasia through various on-market purchases. DP Eurasia is the exclusive master franchisee of the Domino’s Pizza brand in Turkey, Russia, Azerbaijan and Georgia. As of May 29, 2022, JFN held 42.70% of its issued share capital in DP Eurasia.
The company also announced its quarterly results on Monday. For the three months leading up to March, the company reported a jump of 12.87% in quarterly revenue from operations 1,157.88 crore; Standalone profit for the period was up 11.3% to touch 116 crores from 104.2 crore reported in the year-ago period.
At Domino’s, revenue growth is driven by strong growth in the delivery channel.
HT Media Limited, the publisher of Mint, and the promoters of Jubilant Foodworks are closely related. However, there is no promoter cross-holding.