Devyani International has announced a major leadership reshuffle, appointing its long-time Chief Financial Officer Manish Dawar as President and Chief Executive Officer, effective April 1, as the quick service restaurant (QSR) major prepares for a transformative phase, including its proposed merger with Sapphire Foods.
Dawar, who currently serves as CFO and Whole-time Director, will succeed Virag Joshi, who is stepping down from executive responsibilities after over two decades with the company. Joshi will continue to remain associated with Devyani as a Non-Executive Director and strategic advisor, ensuring leadership continuity during the transition.
The leadership change comes at a critical juncture for Devyani International, which operates leading global QSR brands such as KFC, Pizza Hut and Costa Coffee in India. The company is in the process of pursuing a merger with rival Sapphire Foods, a move that, once completed, is expected to create one of India’s largest and most influential restaurant platforms, subject to regulatory and shareholder approvals.
With over 30 years of leadership experience, Dawar brings a blend of financial expertise and operational insight. Prior to joining Devyani, he held senior roles at Vodafone India, Vedanta, Reckitt Benckiser and Reebok, and began his career at Hindustan Unilever. During his tenure at Devyani, Dawar has played a pivotal role in shaping the company’s growth strategy, including its successful initial public offering, the acquisition of the Thailand business, and the turnaround of Sky Gate Hospitality, which houses brands such as Biryani By Kilo and Goila Butter Chicken.
He has also been closely involved in steering the proposed Sapphire Foods merger and, once consummated, will continue to lead the merged Devyani–Sapphire entity as President and CEO, the company said.
Alongside the CEO appointment, Devyani International announced additional changes to strengthen its leadership bench. Anupam Kumar, currently Executive Vice President–Finance, will take over as Chief Financial Officer. Kumar brings more than two decades of experience, with previous stints at Vedanta and Walker Chandiok & Co, before joining RJ Corp.
The company has also appointed Neeraj Tiwari as Chief Technology Officer, signalling a sharper focus on digital transformation and a consumer-led, technology-driven QSR model. Tiwari previously headed digital technology at Americana Group, one of the largest restaurant operators in the Gulf region, and has also worked with Zee Entertainment and Jubilant FoodWorks.
The leadership overhaul underscores Devyani International’s intent to align its management structure with its next phase of growth, as it navigates consolidation, scale, and increased digital adoption in India’s highly competitive QSR market.