Kishore Biyani-led Future Consumer Ltd said on Tuesday it has appointed Rajnikant Sabnavis, a veteran of the fast-moving consumer goods (FMCG) industry, as its chief executive officer, effect January 1, 2020.
Sabnavis, who has over two decades of experience, worked with Hindustan Unilever Ltd for 23 years. He also held major leadership positions across food and home and personal care categories.
Ashni Biyani, managing director at Future Consumer, said Sabnavis brings in deep wisdom in FMCG that will accelerate the firm’s journey.
The company’s ambition, as Biyani said, is to expand the distribution network of its brands across food, home care, personal care and beauty in general trade over the coming years.
Sabnavis, a mechanical engineering graduate from the National Institute of Technology, Surathkal, had served as COO of home-grown consumer goods company Jyothy Laboratories Ltd before joining Future Consumer, according to BSE filing.
In his stint with Jyothy Labs, he is credited to have helped set up the company’s research and development, quality team, created innovation pipelines, go-to-market strategies, and an efficient distribution management system.
Future Consumer operates as a sourcing-to-supermarket food and fast-moving consumer goods firm. It operates brands such as Kosh Premium Oat Grains, Mother Earth and Mera Swad. Its products include processed and frozen food, dairy and bakery items, juices, snacks, and biscuits, besides rice, wheat, spices, pulses, and sugar.
Early this year, Future Consumer secured $40 million from International Finance Corporation and Belgian private investment firm Verlinvest SA.
In 2018, the company also raised Rs 200 crore through non-convertible debentures from the UK-based development finance institution CDC Group Plc. to finance its capital expenditure and long-term working capital requirements.