United Spirits CEO Hina Nagarajan to be replaced by HT Media boss

United Spirits

13/01/2025 14:02

Jan 13 (Reuters) - United Spirits  UNSP.N , the Indian
arm of alcohol maker Diageo  DGE.L , said on Monday its CEO Hina
Nagarajan will step down effective March 31, and will be
replaced by Praveen Someshwar, the chief executive of HT Media
 HTML.NS .
    Someshwar, who will take office from April 1, will also
serve as CEO designate from a month prior to the official
appointment, United Spirits said.
    Someshwar held the top post at HT Media, the owner of the
Hindustan Times national daily, for five years after a 24-year
stint at PepsiCo  PEP.O  where he worked in a variety of roles
ranging from finance to management. 
    The leadership change comes after India's Central Bureau of
Investigation (CBI) alleged last week that Diageo, which owns
about 56% of United Spirits, made a suspicious payment to an
Indian lawmaker to attain favourable decisions. 
    The investigation is part of a formal case registered
against the UK-based Diageo, following a 2018 investigation into
investment approvals.
    Separately, Nagarajan was also summoned last year as a
witness by New Delhi's anti-corruption police investigating
billing and discount practices involving government agencies
running liquor retail shops between 2017 and 2020.
    Nagarajan did not appear before police but Diageo, through
company representatives, submitted many documents that were
sought from the three-year period, Reuters reported last August.
    Nagarajan joined the company as CEO designate in April 2021,
and took over as managing director and chief executive two
months later. 
    
    
   

 (Reporting by Ananta Agarwal in Bengaluru; Editing by Eileen
Soreng)
 ((Ananta.agarwal@thomsonreuters.com;))