Appointment of Mr Abhijit Bhattacharya as Non- Executive and Non- Independent Director of the company w.e.f. March 30, 2026.
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The board recorded the completion of the sale of 145,44,12,858 equity shares (61.90% of equity capital) from the Unilever group entities (Outgoing Promoters) to The Magnum Ice Cream Company HoldCo 1 Netherlands B.V. (Incoming Promoter), pursuant to the June 2025 Share Purchase Agreement. Following the change in control, Mr. Ritesh Tiwari resigned as Non-Executive Non-Independent Director. The board appointed Mr. Abhijit Bhattacharya, CFO of The Magnum Ice Cream Company N.V. and former CFO of Unilever Ice Cream, as the new Chairperson and Non-Executive Non-Independent Director. Mr. Tahir Toloy Tanridagli, President of the SAMET region (South Asia, Greater Africa, Turkey, Middle East) at Magnum, was also appointed as a Non-Executive Non-Independent Director. The Unilever group entities have been reclassified from 'promoter' to 'public' category effective March 30, 2026.
This marks the formal completion of Unilever's ice cream business demerger in India, with Magnum Ice Cream Company now controlling Kwality Wall's. New board leadership from the acquirer signals strategic alignment with global ice cream operations and could bring operational changes over time.