Kwality Wall’s (India) has announced a comprehensive restructuring of its Board of Directors following the successful acquisition of a majority stake by The Magnum Ice Cream Company Holdco 1 Netherlands B.V.
In a regulatory filing, the company confirmed that the incoming promoter now holds 61.90% equity share capital in the firm. This shift in corporate control has triggered a transition in leadership to align the company’s governance with its new global ownership structure.
The board meeting held on Friday concluded with the formal resignation of existing leadership and the appointment of seasoned global executives to steer the company’s next chapter. These changes include the departure of a long-standing director and the induction of a new Chairperson alongside a regional industry expert.
Resignation of Ritesh Tiwari
Ritesh Tiwari has formally resigned from his position as an Additional Non-Executive and Non-Independent Director of Kwality Wall’s (India). This change was recorded by the Board of Directors during their meeting held on March 30, 2026, with the resignation taking effect immediately upon the conclusion of the session.
The resignation is a direct consequence of the change in corporate control following the completion of the Share Purchase Agreement involving The Magnum Ice Cream Company Holdco 1 Netherlands B.V. In his official resignation letter, Tiwari confirmed that there are no other material reasons for his decision to step down from the Board. He also stated that he holds no claims or demands against the company and expressed his gratitude to the management for their support during his tenure.
Appointment of Abhijit Bhattacharya
The Board has approved the appointment of Abhijit Bhattacharya as an Additional Non-Executive and Non-Independent Director, further designating him as the Chairperson of the Board of Directors. This appointment follows the recommendation of the Nomination and Remuneration Committee (NRC) and became effective on March 30, 2026.
As per the company, his leadership is expected to guide the company through its next phase of growth under the new promoter structure, subject to the final approval of the company’s members. His extensive background in executing complex corporate carve-outs and strategic transformations is a significant asset to the Board.
Bhattacharya brings nearly forty years of global experience in finance and operations to the role, currently serving as the Chief Financial Officer (CFO) of The Magnum Ice Cream Company N.V. Previously, he held the position of CFO for Unilever Ice Cream and spent 38 years at Koninklijke Philips N.V. in various senior leadership roles across Europe, Asia, and the United States.
Appointment of Tahir Toloy Tanridagli
In a regulatory filing, based on the recommendation of the Nomination and Remuneration Committee (NRC), Tahir Toloy Tanridagli has also been appointed as an Additional Non-Executive and Non-Independent Director. His term commenced on March 30, 2026, and like other board appointments, it remains subject to statutory approvals and the consent of the company’s shareholders.
He joins the board as a representative of the new majority ownership, bringing deep regional expertise to the leadership team. According to the company, his expertise spans across multiple categories such as food, desserts, and ice cream, making him well-positioned to oversee the company’s regional profit and loss operations.
Tanridagli currently serves as the President for the South Asia, Greater Africa, Turkey, and Middle East (SAMET) region and is a member of the Global Ice Cream Executive Leadership Team. With over 20 years of experience in the snacking and FMCG industries, he has held senior positions at global companies including Kraft Foods-Mondelez and Unilever.
