Vangal, who turned venture capitalist and investor after heading PepsiCo India in New Delhi and PepsiCo's Asia-Pacific snacks food subsidiary in Singapore, will also spearhead the regional push of Seagram's Universal Studios, particularly its recreation group.
The terms of the deal include a minor stake in New Delhi-based Seagram India, a wholly owned liquor subsidiary that entered the subcontinent in the early 1990s as economic reforms got underway.
"Our partnership with Vangal will leverage his impressive Asiawide business experience to accelerate our growth in the vital Asia-Pacific marketplace," says Seagram President and CEO Edgar Bronfman Jr. in a statement from New York.
The India-born executive successfully pushed Pepsi's eponymous cola into Indian prominence through aggressive advertising, marketing and promotions that targeted the young. After leaving PepsiCo, Vangal focused on investments in food- processing ventures in India, with plans for Indonesia and China.
Ogilvy & Mather, New Delhi, handles Seagram India.
Copyright September 1997, Crain Communications Inc.