CG Foods, subsidiary of CG Corp Global, has elevated Varun Chaudhary to the position of global CEO.
He has been associated with CG Corp for over three decades now. He was executive director from 1991 to 2021 after which he was promoted to managing director.
With this elevation, Chaudhary will be expected to help CG Foods, the manufacturer of Wai Wai noodles, achieve a revenue goal of Rs 1,200 crore by the financial year 2026. The company is reportedly diversifying into sauces, pastas, snacks and seasonings too. The firm plans to transition from being a single-product company to a diversified food company capable of scaling globally, innovating continuously and adapting locally. Varun Chaudhary’s main focus is expected to be the restructuring of HR, ensuring efficient operations and facilitating meaningful acquisitions that will also help the country expand in Europe.
In addition to introducing new products, the company will also be considering collaborations or partnerships with other retailers.
To achieve three to four times growth, the company is working towards strengthening its presence across e-commerce and quick commerce too.
GG Foods reportedly runs 13 manufacturing units across seven locations in India, producing about 100 crore units a month. Currently, its maximum revenue is generated in the eastern and northeastern regions of the country. The company also exports products to at least 34 countries around the world.
