Devyani International Ltd., one of India’s largest quick service restaurant franchise operators, has announced a leadership transition at the top, appointing Manish Dawar as President and Chief Executive Officer with effect from April 1, 2026. Dawar, who currently serves as Chief Financial Officer and whole time director, will take charge as the company moves into its next phase of expansion and integration.
The board has accepted the transition plan of outgoing chief executive Virag Joshi, who will step down from the executive role and continue with the company as a non executive director. Alongside this change, Anupam Kumar, currently Executive Vice President for Finance, will be elevated to Chief Financial Officer, ensuring continuity in financial stewardship during a period of strategic realignment.
Dawar brings over 30 years of operating and financial leadership experience across consumer, telecom and manufacturing businesses. His previous stints include senior roles at Vodafone India, Vedanta, Reckitt Benckiser and Reebok. At Devyani International, he has been closely involved in key milestones over recent years, including the company’s public market debut and the scaling of its franchise portfolio across India and international markets.
The leadership reshuffle comes as Devyani prepares for a proposed merger with Sapphire Foods in a transaction valued at around $934 million. If completed, the combined entity is expected to emerge as one of the most influential operators of global quick service restaurant brands in the region, with a larger store network, stronger bargaining power with brand owners and deeper reach across tier one and tier two cities.
Devyani operates and develops several international food service brands in India, with a portfolio spanning quick service dining, cafes and casual formats. The company has continued to expand its footprint through new store additions and selective acquisitions, while also investing in supply chain capacity and digital ordering platforms.
The board said the leadership transition is aimed at maintaining execution continuity while sharpening focus on scale, operational discipline and long term growth as the company enters a consolidation phase in the food service sector.
