FMCG giant Nestle India Pvt Ltd has appointed Etienne Benet as its new MD, as per a stock market disclosure. He will be succeeding Antonio Helio Waszyk who is currently the chairman and managing director of the Nestle India.
Benet, who will assume the new position on October 1, is currently serving as the CEO of Nestle Central and West Africa Region. He is also a member of the company's remuneration committee.
After serving as MD for four years, Waszyk will step down in October 1, 2013, to take up a new assignment within the Nestle Group. He would continue to serve as non-executive chairman of Nestle.
Waszyk earlier served as the head of food strategic business unit, Nestle Group, Switzerland. He joined the Nestle Group in Brazil in November 1977 and also served as technical manager for Nestle Philippines for over two years.
Gurgaon-based Nestle India manufactures dairy foods and beverages. Its products include coffee, chocolates, Milkmaid, Lactogen and Maggi which are sold in 40 lakh outlets. The firm employs around 7,000 people in the country.
The firm is planning to invest Rs 250 crore to expand its Punjab milk plant and acquire 26 per cent minority stake in Indocon Agro and Allied Activities Pvt Ltd, a company engaged in milk collection in Western India.