Vadilal appoints Himanshu Kanwar as first non-family CEO

Vadilal Industries has picked Himanshu Kanwar, former Unilever executive, as its first non-family chief executive officer, months after the ice-cream maker completed a sweeping restructuring exercise to resolve long-standing family settlements within the promoter Gandhi family. Kanwar will move from start-up scaling platform Xto10x where he was general manager, and prior to that 15 years at Unilever where he oversaw personal care and ice-cream businesses in diverse markets. As part of the settlement, the Gandhis had opted to separate ownership from management, with the family retaining control as promoters while leadership would be handed over to professional managers, aimed at maximising shareholder value.

Noting Kanwar’s experience in the category involving “consumer understanding, innovation and go-to-market,” Shiv Shivakumar, chairman of the board, Vadilal Industries said: “Himanshu will play a crucial bridge role in the move from a family run company to a professionally managed enterprise of the future.”

The Rs 1,200-crore ice-cream and frozen food maker, which competes with Amul and HUL’s Kwality Walls, announced the restructuring following months of negotiations among the Gandhi family.


As per the restructuring, three promoter-held entities will be merged—Vadilal International Private Limited (VIPL), Vadilal Finance Company Private Limited (VFCPL), and Veronica Constructions Private Limited (VCPL)—into Vadilal Industries.

The brand being brought under direct ownership will streamline issues such as royalty payments and ease operations.

The company had announced other leadership changes at the time of restructuring, which included Rajesh R. Gandhi and Devanshu L. Gandhi stepping down once as managing directors after litigations were resolved, paving the way for professional managers.