Jubilant FoodWorks Informs Stock Exchanges
Ceo of Jubilant FoodWorks Pratik Pota has resigned from his position in pursuit of an external opportunity. Company has informed stock exchanges on Friday in filing about the resignations.
Filing said “We wish to inform you that the board of directors of the company in their meeting held on March 11, 2022, accepted the resignation of Pratik Rashmikant Pota as the CEO and wholetime director of the company as he wishes to pursue opportunities outside Jubilant FoodWorks Limited.”
As per the company, now Mr Pota will continue to held the responsibilities till June 15, 2022
The filing further said, “The board places on record its sincere appreciation for the outstanding contribution made by Pota during his tenure with the company and wishes him the very best in his future endeavors.”
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Pratik Pota’s Tweet
Pratik Pota joined the company in 2017, he has taken his position from Ajay Kaul. The time was very struggling for the company when Pota joined in 2017. The strugglings was due to the low performance of domino’s franchise.
Pota Tweets about thanking the Board,
“I will be moving on from Jubilant FoodWorks in June. I have spent five extremely fulfilling & eventful years here, and am immensely grateful for the support & trust of the Board, the JFL team & all other stakeholders.”
Also said, “While I am proud of many things we got accomplished in the last five years, I am without doubt proudest of the team of ambitious, determined, entrepreneurial, resilient & change-adept leaders we have built across JFL, and the amazing team members across the stores & commissaries.”
He Also wrote, “I will be moving to pursue a quasi-entrepreneurial opportunity and will share more details soon. I am excited and also admittedly a little nervous, but moving ahead with a strong belief in my credo that, beyond fear lies victory.”
As per ICICI Securities reports, “Jubilant FoodWorks’s EBTIDA margin had taken a significant hit, declining to 11 percent in FY16 from a peak of 18 percent earlier. This weakness in profitability was driven by aggressive expansion and weak performance of Dunkin’ Donuts.”