Nestle India CMD Suresh Narayanan's term extended by another 5 yrs

Nestle India on Friday said it has received shareholders' approval to extend the tenure of its Chairman and Managing Director Suresh Narayanan by another five years.

The company, at its AGM held on Friday, received shareholders' approval for "re-appointment and the terms and conditions of re-appointment of Suresh Narayanan as Managing Director for another term of five consecutive years effective from August 1, 2020."

The AGM was held through video conferencing, Nestle India said in a regulatory filing.  Narayanan's current five-year term was coming to an end on July 31, 2020 and the board had proposed to extend it by five more years.

Narayanan had joined Nestle India as managing director on August 1, 2015, when the company was facing the Maggi crisis.  He was designated as the chairman and managing director with effect from October 29, 2015.

Narayanan had joined Nestle in 1999 as executive vice president for sales in India.