Effective leadership can shape a company’s growth and dynamics, steering it toward unprecedented success and global prominence. The right leader can transform a company’s trajectory with the ability to understand market trends, drive product development, and invest in research and development to stay ahead in today’s competitive landscape.
One such leader, Varun Chaudhary, is a standout figure at CG Corp Global. As the Managing Director, he has transformed CG Foods and CG Corp Global into major players in the food and beverage industry. Varun’s passion and visionary approach have not only solidified CG Corp Global’s position as an industry leader but have also earned him recognition as one of the most influential business leaders in the global arena.
CG Corp Global: A Legacy of Innovation & Vision
With a history of over 140 years, CG Corp Global stands as a multinational corporate powerhouse rooted in Nepal. From humble beginnings, it has grown to become the largest business enterprise in the country, boasting a workforce of 15,000 employees and a global presence in more than 35 countries.
Headquartered in Kathmandu, CG Corp Global is a diversified conglomerate excelling in various sectors such as hotels and resorts, education, realty, FMCG (food & beverage), financial services, consumer electronics, cement, hydropower, and EPC (Engineering, Procurement and Construction). Rapid expansion over the past two decades has propelled it to the status of the first and only billion-dollar multinational in Nepal.
Guided by a vision to be a five-billion-dollar enterprise by 2025, CG Corp Global aims to establish itself as a corporate conglomerate with core competencies in key sectors. Chairman Binod Chaudhary, recognized among Forbes billionaires, epitomizes simplicity and substance, overseeing a new generation of the Chaudhary family with a global vision.
The company’s mission and philosophy revolve around creating value for customers, contributing to the nation’s economic upliftment, and embracing a management approach based on esteem for human dignity. With aspirations to be the most admired company in Nepal and take the nation to the world, CG Corp Global continues to evolve as a model corporate institution under the leadership of the Chaudhary family.
CG Corp Global navigates its path to success with a set of unwavering core values:
- ENTREPRENEURSHIP: Actively contribute, innovate, and see problems as opportunities. Take calculated risks.
- HUMILITY: Embrace active listening and let your work speak for you.
- SOCIAL RESPONSIBILITY: Contribute personal time, urge others, and be sensitive to diverse backgrounds.
- DELIVER THE PROMISE: Strive for ambitious goals, be dependable, and communicate transparently.
- TEAMWORK & RESPONSIBILITY: Promote effective collaboration, discourage protectionism, and prioritize collective success.
- RESPECT FOR INDIVIDUAL: Be punctual, courteous, and appreciative. Reward team members suitably.
- LEARNING: Continuously improve by learning from experiences and seeking feedback.
Educational Journey
Alongside his brothers, Varun Chaudhary attended the esteemed/ reputed Doon School in Dehradun, India. Following this, he pursued his bachelor’s degree in business at Miami University in the USA. Building on this foundation, Varun specialized in Business Administration and Management, earning his Master of Business Administration (M.B.A.) from Murdoch University.
Leadership Philosophy
Varun Chaudhary implements a leadership philosophy focused on inspiring and motivating the workforce. He communicates closely with CEOs and senior management, ensuring their motivation and active engagement with employees to cultivate a positive and productive work environment. Varun believes in leading by example, embodying the values and principles he expects from the team, fostering dedication, integrity, and a strong work ethic.
Transparency and open communication are pivotal in his leadership approach, coupled with setting clear goals and expectations. Varun emphasizes the significance of clearly defining roles and responsibilities, empowering employees as masters of execution. Recognizing and appreciating achievements, regardless of their scale, is another key aspect, contributing to a culture of recognition that boosts morale.
Above all, Varun Chaudhary underscores the importance of emphasizing a sense of purpose. He enables employees to connect their work to a larger purpose, fostering a sense of fulfillment and motivation. Through these strategies, Varun believes any business leader can create an inspiring and supportive work environment, encouraging employees to contribute their best to the overall success and growth of the company.
Diverse Leadership Portfolio
As the youngest member of Nepal’s only billionaire family, Varun Chaudhary holds a significant position in chosen business verticals that resonate with his genuine passion. His primary responsibility is overseeing the FMCG (Fast Moving Consumer Goods) division of CG Corp Global, specifically focusing on the globally renowned noodle brand ‘WAI WAI’ under CG Foods. His strategic initiatives have enabled WAI WAI to establish a presence in nearly 50 countries worldwide.
Varun Chaudhary’s leadership extends beyond FMCG to other key business segments within CG Corp Global. These include CG Mega Food Park, CG Agro Business, CG Ayurveda & Biotech, Retail, CG Cement, CG Infrastructure and EPC, CG Realty Global, and CG Developers India. His approach involves pioneering new product developments to expand the brand’s footprint across India. Additionally, Varun strongly emphasizes utilizing digital platforms to connect with a younger audience, ensuring CG Corp Global stays ahead in this ever-evolving business landscape.
Navigating Growth Horizons
Varun Chaudhary has steered a transformative journey, propelling CG Foods and CG Corp Global to unprecedented growth and success. His strategic prowess has not only expanded market footprints and diversified product portfolios but has also fostered strategic partnerships, positioning these companies as dynamic global players in the competitive food and beverage industry. Varun’s leadership has successfully embedded brands in diverse international markets, reflecting a steadfast commitment to quality, innovation, and sustainability. Furthermore, Varun’s emphasis on corporate social responsibility in the North Eastern region of India earns CG Foods and CG Corp Global acclaim as responsible corporations. His dedication to ethical business practices and social welfare has become a hallmark of the company.
A key aspect of Varun Chaudhary’s leadership is his nuanced understanding of market dynamics and consumer preferences, ensuring that the brands stay at the forefront of the evolving food and beverage landscape through continuous innovation in product development. His vision has driven significant investments in research and development, leading to the introduction of new products and expansion into emerging markets, making them industry leaders. His stewardship is not just about exemplary leadership but a genuine commitment and passion for the brands, navigating them toward sustainable and impactful global growth.
Business Involvement
Varun Chaudhary is the youngest member of the Chaudhary family, with a business legacy spanning 24 countries, oversees a vast empire within CG Corp Global, and manages 79 brands and 167 companies with over 13,000 employees. His focus centers on the global and Indian operations of Wai Wai, CG Corp Global’s flagship product. Varun’s responsibilities extend to a diverse portfolio, including Mega Food Park, Agro Industries, Quick Service Restaurants, Cement, EPC, Real Estate, Ayurveda, and Biotech.
A notable milestone is the ongoing construction of CG Corp Global’s sixth major global plant in Cairo, Egypt. This strategic move aims to tap into the North African Market, marking the conglomerate’s 15th plant globally. Varun Chaudhary’s leadership at CG Foods India will oversee this plant, with a production capacity exceeding 1 million packs per day, exporting over 50% of its output. This expansion underscores Varun’s commitment to steering CG Corp Global’s growth on the global stage.
Strategies For FMCG Challenges
Varun Chaudhary navigates many challenges prevalent in the fast-paced and competitive FMCG sector. The industry is marked by intense competition, requiring constant strategic innovation to differentiate products, establish a strong brand identity, and sustain a competitive advantage.
Varun Chaudhary believes adapting to rapidly evolving consumer preferences is the key. CG Foods and CG Corp Global vigilantly monitor trends and adjust product offerings and marketing strategies accordingly. Moreover, effective supply chain management takes precedence, emphasizing the need for efficient processes to control costs and ensure timely and consistent product deliveries.
Furthermore, price pressures from competitors and consumers present a delicate balancing act, requiring the companies to navigate between competitive pricing and preserving profit margins. Therefore, Varun believes investment in research and development is substantial, aimed at fostering innovation and staying relevant in the market.
To overcome these challenges, Varun Chaudhary and his team employ a multifaceted approach.
Strategic planning involves formulating long-term strategies encompassing realistic goals, target market identification, and growth-oriented tactics.
Market research is a cornerstone for informed decision-making, providing insights into consumer preferences, competitor activities, and emerging trends.
Recruitment and retention of top-tier talent and cultivating a positive and collaborative work culture are emphasized to build robust and motivated teams.
Adopting technology spanning supply chain management, analytics, and marketing is pivotal in enhancing efficiency and streamlining operations.
Customer engagement is also prioritized, with the companies actively interacting with customers through social media, feedback surveys, and responsive customer service channels to better understand their needs and preferences. Embracing a culture of continuous improvement and innovation is ingrained in the companies’ ethos, fostering creativity and ensuring a leading position in the competitive landscape.
Business Expertise
Varun Chaudhary brings a wealth of business expertise to the forefront. He embraces the constant battle of striving for improvement, viewing it as the essence of the business journey. Fueled by passion at its core and a commitment to hard work, the company thrives on the industry’s dynamic nature.
Both companies are investing yearly in ramping up capacities, and their capacity grows yearly. They have taken a forward-looking approach by diversifying their FMCG portfolio by introducing savory products like sauces and pasta. The companies further enhance their global presence through innovative collaborations, associations, and strategic business model restructuring.
To maintain a strong position in the industry, Varun Chaudhary emphasizes the importance of always remaining relevant. From strengthening the brand and sharpening its Unique Selling Proposition (USP) to expanding the product portfolio and adapting to changing consumer preferences, CG Corp Global addresses these challenges continuously. Varun recognizes the significance of embracing change in a landscape where newer ideas and competitors emerge, asserting that adaptation to trends is key for long-term survival and success.
Insights Into India’s Thriving FMCG Sector
As a seasoned business leader in the FMCG industry in India, Varun offers a comprehensive overview of the sector’s dynamic landscape. According to him, the food processing industry has emerged as a key driver of the country’s economy, showcasing remarkable growth and contributing significantly to the Gross Domestic Product (GDP). Varun Chaudhary highlights the industry’s pivotal role within the agricultural value chain, consistently demonstrating robust growth.
Underlining its impact on employment generation, Varun emphasizes that the food processing sector caters to both skilled and unskilled labor segments, providing opportunities across various supply chain stages. Recognizing its strategic importance, the Indian government has introduced initiatives such as “Make in India” and the “Pradhan Mantri Kisan SAMPADA Yojana” to stimulate investment and modernization in the sector.
Varun further sheds light on the industry’s focus on value addition and preservation, which is crucial for enhancing the value of agricultural produce, minimizing wastage, and employing effective food preservation techniques. The diverse product range, spanning fruits and vegetables, dairy products, meat and poultry, grains, confectionery, and beverages, reflects India’s abundant agricultural resources and capacity to meet various consumer needs.
Highlighting the international dimension, Varun Chaudhary notes the increasing export opportunities for Indian food products, driven by the industry’s adherence to international quality standards. Despite this growth, he acknowledges the challenges faced by the sector, including inadequate infrastructure, regulatory complexities, supply chain inefficiencies, and limited access to technology and skilled labor. Varun underscores the importance of addressing these challenges for sustained growth and the industry’s long-term sustainability.
Vision To Success
Varun Chaudhary believes in focusing on simplicity and fundamental values. The overarching philosophy centers on upholding human dignity without discrimination while creating value for customers and the nation through global services and products. The industries represented by CG Corp Global hold immense significance, fostering linkages and synergies among the primary (agriculture), secondary (industry), and tertiary (R & D in Agro-processing) sectors of the economy.
Varun, mainly steering CG Foods, the FMCG arm, envisions making WAI WAI a household name across North, South, and West India. His forward-looking vision extends to the company’s plans to go public with an Initial Public Offering (IPO) by 2025. The aspiration includes achieving a remarkable milestone with a projected turnover of 2000 crores in the near future, underlining Varun’s visionary leadership approach.
Mentorship Wisdom
Varun shares a fundamental piece of advice for aspiring leaders. He emphasizes that businesses are people carrying out ideas, regardless of their scale. Varun Chaudhary encourages young minds to cherish and nurture their ideas, whether small or big and to never let them go to waste. He urges them to be ambitious and commit to their aspirations, even in the face of inevitable challenges.Â
“As the Managing Director, Varun has transformed CG Foods and CG Corp Global into major players in the food and beverage industry.”
