Devyani names Manish Dawar CEO as revenue grows

Devyani International, the operator of KFC and Pizza Hut restaurants in India, has promoted Chief Financial Officer Manish Dawar to chief executive officer, effective April 1, the company announced, as it reported solid revenue growth driven by strong customer demand.

Dawar will replace current CEO Virag Joshi, who will remain with the company in another role. Following the announcement, shares of Devyani International rose nearly 5%, reflecting positive investor sentiment toward the leadership transition, News.Az reports, citing Reuters.

Dawar joined Devyani in 2021 and previously worked at major consumer companies, including Hindustan Unilever and Reebok India. The company said internal executive Anupam Kumar will step into the CFO role following Dawar’s promotion.

The leadership change comes alongside strong financial performance. Devyani reported an 11% increase in quarterly revenue, supported by high customer traffic and the success of discounted menu offerings designed to attract price-sensitive consumers.

Industry analysts say value-focused pricing strategies have helped quick-service restaurant chains maintain growth in competitive markets, particularly during periods of economic pressure and changing consumer spending patterns.

Devyani International operates major global fast-food brands across India and several other regional markets. The company has been expanding its store network while also focusing on operational efficiency and digital ordering channels.

The appointment of a finance-focused executive to the CEO role signals continued emphasis on profitability, cost management and structured expansion as the company scales operations in one of the world’s fastest-growing fast-food markets.

Investors will likely watch how the new leadership balances expansion plans with maintaining strong margins as competition intensifies across India’s quick-service restaurant sector.

News.Az 

By Aysel Mammadzada