Parag Milk Foods, an India-based dairy business, has appointed Venkat Shankar as chief executive from today (4 July).
Shankar is a 15-year FMCG veteran who has experience in dairy, private equity, media and advertising, according to a notice posted with the Indian stock exchange. He previously worked at another Indian food firm, Britannia Industries, where he was vice president and head of its dairy business, and has also served in sales and marketing functions at food and beverages heavyweight PepsiCo.
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Devendra Shah, the chairman of Parag Milk Foods, commented: “We are delighted to welcome Mr. Venkat Shankar as our CEO. His extensive FMCG experience and illustrious career spanning over three decades would be tremendously valued in implementing the vision and objectives of the company as it continues on its journey towards becoming a leader in the dairy FMCG sector.”
The new CEO will be tasked with helping Parag Milk achieve its “short-term and long-term objectives” as the company continues to pursue ambitions to become a “leading player in the dairy FMCG space”, the statement read.
Shankar added: “The company has built a strong and robust platform over the years and I am thrilled to be a part of this new phase of growth and look forward to creating long-term value for our stakeholders. Parag Milk Foods is constantly setting new benchmarks for the industry by pushing the envelope with innovation.”
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