In a strategic move to fortify its future growth and innovation, RJ Corp, the $3-billion conglomerate chaired by business magnate Ravi Jaipuria, has announced a comprehensive succession plan. This plan positions his children, Varun Jaipuria and Devyani Jaipuria, at the helm of major divisions within the corporation.
RJ Corp, a global conglomerate with a diverse portfolio of businesses, oversees Varun Beverages (VBL), the second-largest bottler of PepsiCo outside the United States, and Devyani International (DIL), the operator of renowned food chains KFC, Pizza Hut, and Costa Coffee in India.
The succession plan marks Varun Jaipuria, aged 36, to lead the food and beverages division, overseeing VBL and DIL. Meanwhile, Devyani Jaipuria, aged 39, will spearhead the group's foray into healthcare, managing the high-end maternity hospital chain Cocoon and stem cell banking. Additionally, she will oversee prominent educational institutions like Delhi Public Schools in Gurgaon and Jaipur, DPS International School in Gurgaon, and Dharav High School in Jaipur.
Despite the changes, Ravi Jaipuria will continue as the chairman of RJ Corp, focusing on overall growth, policies, strategic expansion, and diversification. According to him, daily operations will be managed by professionals, allowing his children to concentrate on broader strategic initiatives and the long-term vision of the company.
Following the announcement of the succession plan, the stocks of RJ Corp's group companies, Varun Beverages and Devyani International, witnessed a significant rise in the market. The Jaipuria family and RJ Corp hold around 62.91% stake in Varun Beverages and 62.74% in Devyani International.
RJ Corp, which initiated its partnership with PepsiCo India over three decades ago, holds the franchise for several countries worldwide, including South Africa, Morocco, Zambia, Zimbabwe, Nepal, and Sri Lanka. In December last year, RJ Corp made two global deals, with VBL acquiring South Africa’s Beverage Co (BevCo) and DIL entering Thailand by acquiring 274 KFC outlets.
With the succession plan in place, RJ Corp aims to strengthen its market position, both in India and internationally, focusing on product categories aligning with evolving consumer preferences. The strategic positioning of Varun Jaipuria and Devyani Jaipuria to lead major divisions marks a significant milestone in RJ Corp's journey, ensuring continuity, stability, and a future marked by growth and innovation.
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