Norwegian consumer goods company Orkla has re-organised its top management operations in India. Orkla has also restructured MTR’s operations into three business units: MTR, Eastern, and International Business (IB). Each of these verticals will have their own independent chief executive officers who will report to Sanjay Sharma, CEO, Orkla India. With these developments, MTR Foods is renamed to Orkla India.
The corporate rejig, which is a part of the global restructuring at Orkla ASA—the parent company—under the current president and CEO Nils K Selte, the three independent verticals MTR, Eastern and International will operate under Orkla India.
Orkla India, which was established this year in April, stands among the 12 independent portfolio companies.
Sunay Bhasin, who heads MTR Foods as chief commercial officer will be elevated as the chief executive officer. Ashwin Subramanian has been appointed as the new CEO, international business for Orkla India. Navas Meeran, who is the chairman at Eastern Condiments, a Kerala based spicemaker, will continue to lead the vertical.
In the year 2007, Orkla India acquired MTR Foods. In 2011, the company purchased Rasoi Magic Foods through MTR and in 2020, Orkla took hold of 67.8 percent stake in Eastern Condiments.