PK Thimmayya to replace Manishi Sanwal as the new CEO of Flemingo Travel Retail Limited
Flemingo Travel Retail Limited (FTRL) has announced the departure of current Chief Executive Officer (CEO) Manishi Sanwal and the appointment of PK Thimmayya as his successor, heralding the change of one of the largest travel retail companies in India.
Thimmayya takes over the CEO position effective from August 16, the company said in a press release. Sanwal will be staying with the group till August 31 to handover his duties.
FTRL said that since 2012, Sanwal had shown remarkable leadership in driving the travel retail business at Mumbai Duty Free.
Commenting on the leadership change, Atul Ahuja, Chairman of the Board for FTRL, said: “Manishi has been a strong pillar of growth for Flemingo. In his tenure, he has given good growth, diversified into several new directions, fought challenging battles and kept the team spirit high. It was a difficult decision to let him go but I wish him all the very best for his future endeavours.”
“P.K.Thimmayya joins us from within the Flemingo group itself. He has been instrumental in establishing and developing Colombo operations for us. Colombo delivers one of the highest retail sales per square feet for Flemingo.”
“We hope to leverage the learnings of Colombo in our Mumbai (and India operations) and wish him success and growth in Mumbai and India”.
Last year, Sanwal made a spectacular entry as one of the Top 10 CEO in India. He was credited with initiating many innovative and award-winning marketing campaigns that successfully drove higher business for the company.
Thimmayya joins from Flemingo Colombo after a very successfully stint of running the concession for more than 5 years. Under his leadership, he had established and successfully driven the new concession to greater heights.