After being the Co-Founder and CEO of specialty coffee chain, Third Wave Coffee, for more than six-and-a-half years, Sushant Goel has decided to take up a Board Member role in the company.
Following this, the company has appointed Rajat Luthra, who has been serving as the CEO of KFC India and Nepal for more than a decade now, as its new CEO, effective Q1 of FY 24-25, to lead Third Wave Coffee into its next phase of success.
Since the inception of the homegrown specialty Coffee chain in 2016, Goel, as CEO, had been responsible for steering the company’s business strategy and forging robust investor relations.
That being said, in his new role as a Board Member, he will continue to contribute towards the growth and development of the rapidly expanding the homegrown coffee brand, guide the strategic direction of the company and develop new initiatives for Third Wave Coffee.
Commenting on the development, Goel, said, “As CEO and Co-founder, I have had the privilege of leading the company through its formative years and I am incredibly proud of the journey that we have embarked on. The brand is ready to embark on its next leg of growth. Now, as I transition to the Board, I am excited to continue contributing towards our vision and growth from a different vantage point. Rajat is a veteran in the QSR industry, and I am filled with optimism on what the future holds for Third Wave Coffee under his stewardship.”
In a joint statement, representatives of Third Wave Coffee’s investor companies- Westbridge Capital and Creaegis, said, “We extend our heartfelt gratitude to Sushant for his instrumental role in shaping the remarkable journey of Third Wave Coffee thus far. His vision, dedication, and unwavering commitment as CEO have been pivotal in propelling our company to new heights. As Sushant transitions to his new role on the board, we are confident that his guidance and strategic insights will continue to steer us towards even greater success. We also warmly welcome Rajat Luthra, who has rich experience with QSRs at scale, and are excited about the fresh perspective and leadership he will bring to the table. Together, under Sushant’s continued guidance and Rajat’s leadership, we are poised to embrace new opportunities and drive the company to new heights.”
