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Shares of Jubilant FoodWorks Limited, India's largest food service company, and the operator of fast-food chains like Domino's Pizza and Dunkin' Donuts in India surged over 2 percent after it announced the appointment of Sameer Khetarpal as its new Chief Executive Officer (CEO) and Managing Director.

At 11:45 am shares of the company were trading at Rs 613, 2.47 percent up from the previous close on the BSE. Jubilant FoodWorks stock has gained over 8 percent in one month and has surged over 20 percent in six months.

Shareholders had also approved Khetarpal’s appointment at the food major’s annual general meeting on August 30.

After 6.5 years at Amazon, where he conceptualised, built, and scaled various businesses like Amazon Fresh, Amazon Food, and Amazon Pharmacy, Khetarpal joined Jubilant FoodWorks.

Khetarpal has a 25-year career in sectors like e-commerce and management consulting. He worked as a partner at McKinsey and Company before joining Amazon. While there, he advised a number of high-tech clients on issues pertaining to business development and transformation and played a key role in developing data-driven service lines that were utilised by numerous Fortune 500 companies.

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Additionally, he has experience with Hindustan Unilever and GE Capital. Throughout his career, Khetarpal has been driven by a passion to serve customers and build businesses by leveraging technology,” the company said in a press release.

On July 28, the company reported a 63 percent growth in consolidated profit for the April-June quarter. It stood at Rs 112.6 crore driven by a low base and strong revenue and operating performance.

Its consolidated revenue from operations for the quarter stood at Rs 1,255.10 crore, up by 40.5 percent as compared to the previous quarter last year.

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First Published:Sept 6, 2022 1:19 PM IST