Devyani International (DIL), which runs KFC and Pizza Hut outlets in India as a franchisee of US-based Yum Brands, has appointed its chief financial officer (CFO) Manish Dawar as the company’s next CEO and president.
The leadership change will be effective from 1 April 2026.
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DIL non-executive chairman Ravi Jaipuria said: “DIL is at a critical inflection point in its growth journey, as we prepare to scale into a larger, more diversified and more complex organisation.
“The board believes that this next phase requires a bold strategic vision, backed by strong execution capability. Accordingly, Manish Dawar shall get elevated as president and CEO for DIL with effect from 1 April 2026.”
Dawar will succeed Viraj Joshi, who will continue with the company as a non-executive director, according to a Reuters report.
Following this transition, DIL’s current finance executive vice-president Anupam Kumar will step into the position of CFO.
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By GlobalDataThe company announced the leadership change alongside its results for the third quarter that ended on 31 December.
It reported a consolidated net loss of Rs103.9m ($1.15m) for Q3 FY26, compared with a loss of Rs4.9m in the same period a year earlier.
Excluding a one-time charge related to India’s new labour laws, DIL posted a profit of Rs659.8m ($7.31m) for the December quarter.
Last month, Devyani International entered a merger agreement with Sapphire Foods.
The transaction would bring together two Yum! Brands franchise operators in India, creating one of the country’s largest quick-service restaurant groups. The merger is expected to take approximately 12 to 15 months to become effective.
