Ex-frieslandcampina Exec Named New Fraser And Neave Ceo

Credit: Pavel Kapysh / Shutterstock.com

Singapore-based food-and-drinks group Fraser and Neave has named erstwhile FrieslandCampina executive Rahul Colaco has its caller CEO.

Colaco will return nan helm connected Wednesday (1 October), joining from Thai drinks elephantine Thai Beverage.

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The 51-year-old succeeds Hui Choon Kit, who has worked astatine Fraser and Neave for 25 years and has been CEO since 2022.

Fraser and Neave president Koh Poh Tiong said: “Rahul is simply a seasoned leader pinch a beardown track-record successful building brands, driving maturation and delivering results crossed divers markets. The committee is assured that he will lead F&N into its adjacent shape of growth, building connected our beardown foundations and seizing opportunities successful a move operating environment.”

Colaco worked for FrieslandCampina from 2009 to 2019, rising to go president of nan Dutch dairy group’s business successful China.

He joined Thai Beverage successful 2020 and, for nan past year, has been nan world spirits main astatine nan Old Pulteney whisky maker.

Colaco, who besides spent 5 years astatine Unilever earlier successful his career, said: “It is an honour to beryllium entrusted pinch nan activity of F&N, a institution pinch specified a rich | practice and beardown portfolio of brands.”

Fraser and Neave, which owns brands including Nutri Soy soya beverage and 100 Plus isotonic drinks, has a financial twelvemonth that runs to nan extremity of September. In nan 12 months to 30 September 2024, nan institution generated S$2.16bn (US$1.68bn), up 3% connected a twelvemonth earlier. Profit aft taxation accrued 6.8% to S$219.1m.

The group, which besides has interests successful printing and publishing, said each its nutrient and drinks businesses grew during nan 12-month period.

In August, Fraser and Neave published a trading update for nan first 9 months of nan financial twelvemonth that is coming to an extremity successful 5 days.

Revenue grew 9.7% to S$1.77bn amid increasing income from its nutrient and drinks arm. Profit aft taxation fell 6.4% to S$169.5m, pinch little net from soft drinks a factor.

Koh added: “On behalf of nan board, I would for illustration to widen our acknowledgment and heavy appreciation to Choon Kit for his contributions and leadership. Over nan past 25 years, he has served F&N pinch afloat dedication and successfully steered nan group done a move business environment.”

Hui, who is retiring, said: “It has been a privilege to lead F&N and to activity alongside specified a talented and dedicated team. Together, we person navigated challenges and seized opportunities to fortify nan group. I americium proud of what we person accomplished and I americium assured that nether Rahul’s leadership, nan group will proceed to execute moreover greater success.”