Starbucks: Sushant Dash new CEO, Gurnaney steps down

Tata Starbucks on Wednesday said that it was appointing Sushant Dash, president, packaged beverages at Tata Consumer Products, as the coffee chain’s new chief executive officer (CEO) in India. The appointment would be effective May 1. The development follows the decision of incumbent Navin Gurnaney to step down from his position. Dash will take over as Tata Starbucks' CEO designate from April 1. Dash will be the fourth CEO to manage the chain’s India business since it first launched operations in October 2012 in a 50:50 joint venture with Tata Consumer Products. The chain currently operates over 215 stores across 17 cities.

GAIL (India) on Wednesday reported a 6.53 per cent fall in consolidated net profit to ~1,897.04 crore in the December quarter (Q3), from ~2,029.51 crore a year ago. However, on a standalone basis, net profit rose 19 per cent to ~1,487.33 crore, from ~1,250.65 crore in the corresponding quarter last financial year, helped by a lower total tax expense — ~380.36 crore, down from ~620.98 crore.

Total income also declined 12.13 per cent to ~15,899.85 crore, from ~18,094.15 crore in the third quarter of FY20.

GAIL had posted a consolidated total income of ~14,104.80 crore in Q2, while consolidated profit in Q2 was ~1,068.16 crore. The natural gas marketing business saw the steepest decline in Q3, with revenue from this vertical, that holds the largest share within GAIL’S portfolio, falling to ~14,882.74 crore, from ~17,157.64 crore.

Lower revenue in this segment led to a ~157.94-crore loss within this domain.