UBL surges 5% on new CEO announcement, stock at eight-month high

United Breweries Limited (UBL) on Thursday, September 7, announced that it has appointed Vivek Gupta as its new Managing Director and CEO for the next five years — from September 25, 2023 to September 24, 2028. This sent UBL's stock soaring by 5 percent, propelling it to its highest levels in eight months.

"It is an honour to stand on the shoulders of greatness and lead UBL into the future. I feel privileged to be entrusted with one of India's most iconic brands, the Kingfisher beer, and the world-renowned Heineken brand. I eagerly anticipate the journey ahead with the UBL leadership team and our dedicated colleagues as we create greatness together," Gupta said.

In his new role, Gupta, with the UBL leadership team, will spearhead the mission to drive sustainable growth for the company. He will lead the premiumisation of UBL's portfolio, with a particular focus on enhancing the iconic status of Kingfisher, ensuring that UBL's legacy continues to shine as brightly as ever.

Gupta is an engineering graduate with a master's degree in business management from the IIM Ahmedabad. He boasts of an illustrious career, spanning both India and the global stage. He has held pivotal positions in multi-national corporations as well as cutting-edge startups, giving him a profound understanding of go-to-market strategies and the intricacies of operating businesses in both traditional and digital realms.

During his tenure at Procter & Gamble (P&G), Gupta spent over two decades in leadership and commercial roles across various product categories, ranging from everyday consumer goods to premium offerings. His last role at P&G was of Managing Director for Australia and New Zealand, a testament to his exceptional leadership skills. Before joining UBL, Gupta was part of India's fastest-growing unicorn, Udaan.com, where, as Chief Business Officer, he played a pivotal role in establishing India's most influential and disruptive e-B2B platform.

Anand Kripalu, an Independent Member of UBL's board of directors, extended a warm welcome to Gupta on behalf of the entire board and said he is a dynamic and seasoned leader for UBL. "His unique blend of innovation and respect for tradition makes him the perfect fit for our organisation. We anticipate his leadership to be a breath of fresh air, potentially transforming and leaving an indelible mark on the Indian beer industry," Kripalu said.