Pratik Pota has resigned as CEO of Food Jubilants when he looked for external opportunities, the company received information in submission for the stock market on Friday.
“We want to tell you that the company’s board of directors in their meeting was held on March 11, 2022, accepting the resignation of the Pratik Rashmikant Pota as the CEO and Director of the Wholetime company as he wanted to do opportunities outside Food Jubilant Limited,” he said.
Poca will continue in its current role until June 15, 2022, according to the company.
“Board Places recorded a sincere award for the extraordinary contributions made by Poca during his term with the company and said the best in his future efforts,” the company said in the submission of shares.
The company has initiated the process of identifying its replacement, it told.
Poca has joined Jubilant food in 2017 and credited with the company turnaround. POPA has taken over from Ajay Kaca when the company struggles with the performance of a slow domino franchise because of weak consumer sentiment that affects discretionary expenditure.
Reacting to Development, Poca Not to Twitter and Writing, “I will switch from Jubilant FoodWorks food in June. I have spent five years very satisfying & fighting for here, and very grateful for support & confidence, JFL. Team & All other stakeholders. “
He also wrote, “When I am proud of many things we achieved in the past five years, I am without a doubt most proudly ambitious teams, determination, entrepreneurship, tough & change of Adept, we have built JFL, and the extraordinary team members across shop & commissioner … “
He added that he had no doubt that JFL would be under the stewardship they grow into the strength of multi-brand technology, multi-country, food.
Add more, he wrote, “I will move to pursue opportunities for pseudo, and will immediately share details
Excessive price increases in products with good food, show analyst, also affect dominoes.
“The Jubilant Ebtide FoodWorks margin has taken a significant hit, decreasing to 11 percent at FY16 from the peak of 18 percent before. The weakness in this profitability was driven by aggressive expansion and weak performance of Dunkin ‘Donuts,” said Report by ICICI Securities.
PBA initiatives to revive hinged businesses increase value-for-money equations and make victims’ hero products.
“He changed the strategy of a deep discount (day-based discount) to offer consumer assurance and low prices every day (daily value). This helps change the consumption pattern of occasionally to spontaneous which leads to an increase in the frequency of purchases between existing consumers and also helps get new consumers, “according to the report.
At the same time, the report said, Poca was invested in increasing products with new crust, liberal number cheese, other toppings, new imported sauce and pleasant packaging. He launched a pizza with this superior offer, however, at the same price point throughout the country.
This results in a sharp recovery for brands – reported 15.4 percent of the average store sales growth for the next 8 quarters and increased the EBITDA margins which were comparable to 16.8 percent on TA19 from 9.3 percent on FY17, he added.
Poca in the previous assignment has worked with Hindustan Unilever, Bharti Airtel and PepsiCo. According to his Linkedin profile, he began his career as a sales manager with Hindustan Unilever in 1993. He has worked with Pepcico India in various roles before being appointed by the CEO of Jubillant Foodworks.