KFC India operator Devyani International promotes CFO Manish Dawar to CEO

Devyani International, which operates KFC and Pizza Hut restaurants in India, will appoint Chief Financial Officer Manish Dawar as its CEO from April 1, replacing Virag Joshi, the company said on Wednesday.

Shares of the company rose nearly 5% on the day.

Dawar has been with Devyani since 2021 after stints at consumer firms such as Hindustan Unilever and Reebok India.

Indian KFC, Pizza Hut operator Devyani rises on $934 million Sapphire merger

Insider Anupam Kumar will take over as Devyani’s CFO while Joshi will remain with the company.

Devyani also reported an 11% rise in quarterly revenue on Wednesday, as its discounted menu options lured diners in.