Restaurant Brands Asia Limited has announced the outcome of its Board of Directors meeting held on October 29, 2026. The board approved the unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026. Key decisions also included the appointment of two new directors, Mr. Shivakumar Dega and Mr. Anand Bathiya, and the appointment of Mr. Sumit Zaveri as Chief Executive Officer – India Business. Furthermore, the company approved investments in its Indonesian subsidiary and changes to loan conversion terms.
Board Meeting Decisions
In a board meeting held on Thursday, October 29, 2026, Restaurant Brands Asia Limited made several significant announcements impacting its financial reporting, leadership, and strategic investments. The Board considered and approved the Unaudited Standalone and Consolidated Financial Results for the quarter and half-year ended September 30, 2026, along with the Limited Review Report from the Statutory Auditors.
New Director Appointments
Following recommendations from the Nomination and Remuneration Committee, the Board approved the appointment of two new directors:
- Mr. Shivakumar Dega was appointed as an Additional Director (Non-Executive and Independent) for a term of 5 years, effective October 29, 2026, subject to shareholder approval.
- Mr. Anand Bathiya was appointed as an Additional Director (Non-Executive and Non-Independent), effective October 29, 2026.
Leadership Change
Further strengthening its leadership team, the Company announced the appointment of Mr. Sumit Zaveri as the Chief Executive Officer – India Business. This change, effective November 1, 2026, will see his designation shift from Group Chief Financial Officer and Chief Business Officer. He will continue to report to Mr. Rajeev Varman, Group Chief Executive Officer and Whole-time Director.
Strategic Investments and Conversions
The Board also approved strategic initiatives related to its subsidiary, PT Sari Burger Indonesia:
- An investment not exceeding 2,50,000 Optionally Convertible Preference Shares (OCPS), for an amount not exceeding IDR 250 billion, representing a significant capital infusion.
- The conversion of a loan of IDR 371.50 billion into OCPS and the change in terms for existing Redeemable Cumulative Non-Convertible Preference Shares (NCPS) into OCPS. These transactions are subject to shareholder approval for material related party transactions.
Increase in Financial Limits
Subject to shareholder approval, the company will seek to increase the limits for making investments, granting loans, and providing guarantees from INR 2,500 Crore to INR 4,500 Crore under Section 186 of the Companies Act, 2013. The necessary approvals will be sought through a postal ballot.
The board meeting commenced at 02:35 p.m. (IST) and concluded at 04:34 p.m. (IST). The outcome of the meeting has been uploaded on the Company’s website.
Source: BSE
