Jubilant Foodworks Limited has informed the Exchange regarding Appointment of Mr Tejaswi Narasimha Nori as Senior Management Personnel w.e.f. May 14, 2025.
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Jubilant Foodworks' board, at its May 14, 2025 meeting, approved three key items. First, it revoked corporate guarantees worth EUR 116,085,000 (approximately ₹1,050+ crore) issued in favour of HSBC Bank for its wholly owned Dutch subsidiary Jubilant Foodworks Netherlands B.V., potentially replacing them with an alternative arrangement that does not involve the parent company's liability. Second, Mr. Tejaswi Narasimha Nori, currently Senior VP and Business Head for Hong's Kitchen and Dunkin', was elevated to Senior Management Personnel effective the same day; he brings 20+ years of experience from Star India and Coca-Cola India. Third, M/s. Chandrasekaran Associates was appointed as Secretarial Auditor for five years (FY2025-26 to FY2029-30), subject to shareholder approval.
The revocation of the EUR 116 million guarantee reduces the parent company's contingent liability exposure from its Dutch subsidiary, which is a positive signal for balance sheet strength. The internal promotion reflects leadership continuity in the Hong's Kitchen and Dunkin' brands, while the auditor appointment is a routine governance compliance matter with no immediate shareholder impact.