Fraser and Neave appoints Rahul Colaco, a senior Thai Beverage executive, as its new CEO, succeeding Hui Choon Kit. Colaco, with experience at FrieslandCampina and ThaiBev, will lead the company’s next phase of growth. The group generated S$2.16bn in revenue for the financial year ending in September, with a 3% increase from the previous year.

Colaco expresses honor in leading F&N, citing the company’s rich heritage and strong brand portfolio. The group’s financial year, ending in September, saw revenue growth of 9.7% to S$1.77bn, driven by increased sales in the food and drinks segment. Profit after tax decreased by 6.4% to S$169.5m due to lower earnings from soft drinks.

Fraser and Neave’s chairman, Koh Poh Tiong, expresses gratitude towards Hui Choon Kit for his leadership over the past 25 years. Hui, who is retiring, commends the team’s dedication and accomplishments, expressing confidence in Rahul’s leadership for future success. International Beverage, ThaiBev’s international arm, recently announced executive changes, including the departure of Malcolm Leask.

Read more at Yahoo Finance: ThaiBev spirits chief Colaco named new Fraser and Neave CEO