Ex-FrieslandCampina exec named new Fraser and Neave CEO

Singapore-based food-and-drinks group Fraser and Neave has named former FrieslandCampina govt Rahul Colaco as its new CEO.

Colaco will take the helm on Wednesday (1 October), becoming a member of from Thai drinks big Thai Beverage.

The 51-year-old succeeds Hui Choon Equipment, who has labored at Fraser and Neave for 25 years and has been CEO since 2022.

Fraser and Neave chairman Koh Poh Tiong stated: “Rahul is a seasoned chief with a powerful track-record in constructing manufacturers, driving development and delivering outcomes throughout numerous markets. The board is assured that he’ll lead F&N into its subsequent part of development, constructing on our robust foundations and seizing alternatives in a dynamic working surroundings.”

Colaco labored for FrieslandCampina from 2009 to 2019, rising to turn out to be president of the Dutch dairy group’s enterprise in China.

He joined Thai Beverage in 2020 and, for the final 12 months, has been the worldwide spirits chief on the Outdated Pulteney whisky maker.

Colaco, who additionally spent 5 years at Unilever earlier in his profession, stated: “It’s an honour to be entrusted with the management of F&N, an organization with such a wealthy heritage and robust portfolio of manufacturers.”

Fraser and Neave, which owns manufacturers together with Nutri Soy soya milk and 100 Plus isotonic drinks, has a monetary 12 months that runs to the top of September. Within the 12 months to 30 September 2024, the corporate generated S$2.16bn (US$1.68bn), up 3% on a 12 months earlier. Revenue after tax elevated 6.8% to S$219.1m.

The group, which additionally has pursuits in printing and publishing, stated all its meals and drinks companies grew through the 12-month interval.

In August, Fraser and Neave revealed a buying and selling replace for the primary 9 months of the monetary 12 months that’s coming to an finish in 5 days.

Income grew 9.7% to S$1.77bn amid rising gross sales from its meals and drinks arm. Revenue after tax fell 6.4% to S$169.5m, with decrease earnings from smooth drinks an element.

Koh added: “On behalf of the board, I want to prolong our thanks and deep appreciation to Choon Equipment for his contributions and management. Over the previous 25 years, he has served F&N with full dedication and efficiently steered the group by a dynamic enterprise surroundings.”

Hui, who’s retiring, stated: “It has been a privilege to steer F&N and to work alongside such a gifted and devoted workforce. Collectively, we have now navigated challenges and seized alternatives to strengthen the group. I’m happy with what we have now completed and I’m assured that beneath Rahul’s management, the group will proceed to realize even higher success.”

“Ex-FrieslandCampina exec named new Fraser and Neave CEO” was initially created and revealed by Simply Meals, a GlobalData owned model.