Third Wave Coffee CEO to transition to board member

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Third Wave Coffee has announced Co-founder Sushant Goel will transition from his role as CEO to a member of the company’s board, with Rajat Luthra announced as his successor effective from Q1 2024-25.

“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,” says Goel. “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.”

Goel, along with Co-founders Ayush Bathwal and Anirudh Sharma, have been able to scale the company to over 100 outlets across India. As CEO, Goel was responsible for steering the company’s business strategy and forging robust investor relations.

Luthra has previously served as CEO of Kentucky Fried Chicken India and Nepal for over a decade.

In a joint statement, representatives of 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.”

“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. Together, under Sushant’s continued guidance and Rajat’s leadership, we are poised to embrace new opportunities and drive the company to new heights.”

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