Ravi Jaipuria announces succession plan in $3 billion RJ Corp. Who will get VBL, DIL?
Economic Times. In this plan, Varun Jaipuria would take over the mantle of the food and beverage division, whereas Devyani Jaipuria would head the health and education sectors.
Livemint could not independently verify this news development. “Succession planning at RJ Corp has been established that includes a roadmap for Varun and Devyani to take on strategic leadership roles," Ravi Jaipuria told ET. He said, “Daily operations will continue to be run by professionals," thereby giving enough indication of the long-term commitment of the company amidst the ongoing change to professional management, as quoted by ET.
Varun Jaipuria, 36, is poised to lead Varun Beverages Limited (VBL) and Devyani International Limited (DIL), which are part of the RJ Corp portfolio and named after Jaipuria's kids. VBL is the second largest bottler of PepsiCo across the globe after the US, while DIL operates leading brands such as KFC, Pizza Hut, and Costa Coffee in India, the report added.
His sister, 39-year-old Devyani Jaipuria, will head the group's foray into healthcare, which includes the high-end premium chain Cocoon for maternity hospitals and stem cell banking, among other things. The group also encompasses partnerships with eminent institutions like Delhi Public Schools in Gurgaon and Jaipur and many other educational institutions, as per the report.
The founder, on his part, will continue as the chairman of RJ Corp, now focusing on large growth, policies, and strategic expansion. “This framework is designed to ensure continuity and stability of the company while infusing fresh perspectives into new leadership," explained the 70-year-old Jaipuria, reiterating that this plan would help his children focus on the larger strategic
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