ASIA PACIFIC. Highly respected Avolta Asia Pacific CFO Ranjith Kumar is stepping into a well-deserved retirement at the end of June, bringing the curtain down on a stellar, near quarter-century career with the company and its predecessors Dufry and Weitnauer.
“He has extremely high integrity and enjoys a wonderful reputation within the company,” a senior Avolta source tells The Moodie Davitt Report. “We celebrate the incredible journey of a man who has left a mark on our group and its people.
“From Sharjah to Hong Kong and back to his home city of Bangalore, Ranjith’s journey as CFO of Avolta’s Asia Pacific region is one of loyalty, diligence, and commitment to excellence.”
Kumar’s long tenure with the group began in March 2000 when he joined Weitnauer Tuxedo in Sharjah as Finance Manager. From there he spent a decade navigating the complexities of finance from a modest office set atop a warehouse in the emirate.
His innate ability to bridge diverse cultures and manage multiple partners set the foundation for his success, Avolta notes. From Sharjah he transitioned to Hong Kong, working for an impressive line-up of key company figures such as Xavier Rossinyol – then Dufry Regional Chief Operating Officer EMEA & Asia, now Avolta CEO – followed by Andrea Belardini, Pedro Castro and latterly Freda Cheung.
Since the onset of the COVID-19 pandemic in 2020 he has been reporting to Avolta Chief Financial Officer Yves Gerster under a vertical organisational structure.
“Ranjith is someone you can always count on,” says Gerster. “If he tells you he’s doing something, you can trust it’s being done right and on time. His accuracy and reliability are unmatched.”
Managing the APAC region, the most heterogenous of regions, which embraces a rich diversity of cultures, mentalities and business practices, is no easy task, Avolta points out.
With his remit stretching from New Zealand and Australia through to China and India – and including the Middle East in earlier days – Kumar has constantly showcased his exceptional adaptability in creating bridges with people and cultures, the company adds. In particular, his traditional yet fair management style has earned him the deep respect and trust of his colleagues.
“Ranjith has this unique ability to adapt to different management styles and people, which made him an invaluable asset to our team,” says one insider.
Beyond his professional achievements, Kumar is a deeply spiritual individual, believing in the inherent goodness of people. His practice of Hinduism, marked by profound conviction, has guided his principles and actions throughout his career. During the COVID-19 pandemic which hit India hard, he demonstrated his altruistic spirit by volunteering to help the poor.
“Ranjith believes fundamentally in the good of people, and that if you do good, good things will happen to you,” says one colleague.
His commitment to his family is equally noteworthy, the company notes. When the opportunity arose to establish a shared services office in the Asia Pacific region, Kumar successfully advocated for Bangalore, his hometown, ensuring a seamless transition back to his family after years of living alone in Hong Kong.
Gerster smiles at a favourite memory from the lead-up to the establishment of the Bangalore Shared Service Centre. “Ranjith was determined to include India in our options,” he recalls. “During our visit, I was treated like a king, convincing me thoroughly.
“On the way back to the airport, Ranjith asked me what my thoughts were. I told him how I was just really impressed with everything I had seen and it was a yes to India and Bangalore – it was an emotional moment.”
Outside work Kumar is a keen rooftop gardener – “a clear nod to his nurturing nature”, says Avolta – and a passionate cricket fan.
“Ranjith was my first appointment when I started in Sharjah in 2002,” recalls long-time Avolta senior executive René Riedi. “His loyalty, humility and hard work were extraordinary. I vividly remember the excitement he brought to the office during cricket matches between India and Pakistan, comparable to the Champions League for soccer fans. He would organise large television screens for the offices to play the matches – which could last for days – while we worked.” {Main story continues after sidebar}
Looking back on an extraordinary careerRanjith Kumar says his immediate post-retirement plans are “taking a break for mind and body after 25 years”. Married to Shanthy, a post-graduate English teacher, with two sons, Rohith Kavanal (26) and Ankith Kavanal (20) both studying in the UK, he looks back on his time with what has been Avolta since late 2023 with much fondness. “Avolta is an extremely good place to work for a simple reason – care for people. That is Avolta’s biggest asset,” he says. Asked to name any particular mentors during his career, Kumar cites long time CEO Julián Díaz; current Avolta CEO Xavier Rossinyol – “when he was Dufry CFO he impressed on me how to manage a finance portfolio”; and Rene Riedi, his first Regional CEO. The standout moments have been many and varied, including the renaming of Weitnauer to Dufry (7 October 2003), followed by the latter’s sale to an Advent International-led group in early 2004 and its IPO in 2005. “There have also been six or seven major M&As and integrations; several openings – a few in remote and challenging places; building up operations from scratch and a few windings up. “I was also able to manage and support around 30 countries, including Australia, Asia , the Middle East, Eastern Europe, and the Mediterranean, mitigating several challenges and trouble-shooting on the ground realities.” A particularly proud moment came in his hometown, Bangalore, where Kumar played a key role in the creation of the Bangalore Duty Free joint venture at Kempegowda International Airport Bengaluru, an operation he describes as “fabulous”. |
Throughout his time at Avolta, Kumar’s advice has always been grounded in fairness and professionalism, the company notes. “He taught his team to focus on the facts and leave emotions out of professional matters, while his balanced combination of strict professionalism and warm loyalty to his team and their performance always impressed those around him.”
Not surprisingly, his decision to step into an early retirement sparked reaction across the company. Within a day of being informed of the news, Avolta CEO Xavier Rossinyol made a personal call to his trusty APAC CFO to wish him well.
“As we bid farewell to Ranjith, we express our profound gratitude for his dedication and the significant impact he has had on Avolta and its people. His legacy of integrity, adaptability, and compassion will continue to inspire us, and those around him,” Avolta concludes.
“Congratulations, Ranjith, on your well-deserved retirement. Your journey with Avolta has been nothing short of extraordinary, and we wish you all the best in this new chapter of your life.” 
