Mr. Kapoor succeeds Dan Spira, who will step down as Chief Executive Officer after leading iNova for nine years, and will transition to a Non-Executive Director role on the iNova Board and as Senior Advisor at TPG, the major private equity shareholder of iNova.
Shumit Kapoor joins iNova from Kellanova, where he was President, Asia Pacific, Middle East and Africa (AMEA). During his tenure, he was a member of Kellanova’s Executive Committee and served on the boards of its Africa and China joint ventures. He previously held senior leadership roles at Mars Inc., following earlier roles with Procter & Gamble and Nokia.
With more than 30 years’ experience across multinational consumer and technology businesses, Shumit brings deep regional expertise, commercial leadership and a strong track record of driving growth across complex international markets.
Commenting on his appointment, Shumit Kapoor said “I am delighted to have the opportunity to join iNova as CEO and I look forward to building on the strong platform Dan has established.
“With an exceptional international team, a distinctive culture that empowers our people, and a portfolio of iconic brands, I’m excited to partner with our stakeholders as we accelerate into our next phase of growth.”
Dan Spira said: “Over the past 24 months the strategic acquisition of the iconic Betadine brand has transformed the scale of iNova, accelerating our market expansion to high-growth markets in Asia and the Middle East.”
“It has been a privilege to lead iNova. I strongly believe that now is the right time to hand the reins to a new leader. With a portfolio of leading consumer health brands in key categories, strong presence and expertise in high-growth markets, the company is poised for the next phase of growth.”
Vincent Wong, TPG Partner and Co-Head of Healthcare for TPG Asia & iNova Board Director added, “On behalf of the Board, I want to sincerely thank Dan for his outstanding leadership of iNova, significantly scaling the company and cementing its place as a leader in the global Consumer Health Industry. We are excited we will continue to benefit from his strategic thinking, expertise and energy in his new roles.”
“We are very pleased to welcome Shumit Kapoor as incoming CEO. A proven leader, he brings with him extensive experience in managing large, complex multi-national consumer businesses and a strong track-record of retail execution excellence. Importantly, Shumit’s expertise in both Asia Pacific and the Middle East, two regions critical to iNova’s future growth, will be highly valuable.”
The appointment of Shumit Kapoor follows a search process overseen by a committee of the Board, as part of the Board’s long-term succession planning.
