The shares of United Breweries were trading 5% above its previous close and reached an intra-day high of Rs 1,672.25 on 7 September after the company appointed Vivek Gupta as the new Managing Director and Chief Executive Officer.

The company said, “Gupta will be responsible for driving sustainable growth for the company. He will lead the premiumisation of United Breweries portfolio, including strengthening the iconicity of Kingfisher,”

Before this, Gupta was the Chief Business officer of the B2B platform Udan.

Gupta will begin his 5 years tenure with the company from 25 September 2023.

He was an alumnus of IIM-Ahmedabad and has worked with Procter and Gamble Group in various capabilities for nearly two decades and was the Managing Director of the Business in Australia and New Zealand before Joining Udaan.

Vivek Gupta said, “I feel privileged to be entrusted with one of India’s most iconic brands, the Kingfisher beer and the world’s most international brand, Heineken. I look forward to the journey ahead with the UBL leadership and our colleagues as we brew greatness together.”

At 3:30 pm, the shares of United Breweries closed at Rs 1,661.40 or 5.05% above its previous close of Rs 1,581.55 on NSE.