The sudden and tragic passing of Parag Desai, the executive director of Wagh Bakri Tea Group, has sent ripples through the FMCG industry. At the age of 49, his death came as a shock to many, leaving both his family and the business world in mourning.
Who Was Parag Desai?
Born into the Wagh Bakri Tea legacy, Parag Desai was more than just the executive director of the company. With an MBA from Long Island University, USA, he brought modern strategies and international perspectives to the traditional tea business. Under his leadership, the company’s turnover surpassed the Rs. 1500 crore mark, further solidifying its presence in the FMCG sector.
What Circumstances Led to His Untimely Death?
A week before his demise, Parag faced a life-threatening situation outside his Ahmedabad residence when he was attacked by street dogs. While trying to fend them off, he slipped, resulting in critical injuries. Despite being moved to Zydus Hospital for surgical treatment after initial care at Shelby Hospital, he suffered a fatal brain hemorrhage. It was a security guard at his residence who alerted his family about the tragic incident.
Who Survives Him in His Immediate Family?
Parag leaves behind a grieving family. His wife Vidisha, daughter Parisha, and other close family members now have to bear the immense void left by his passing. Moreover, his professional legacy at Wagh Bakri will now be carried on by his brother, Paras Desai, who also serves as an executive director of the company. Rasesh Desai, Parag’s father and the managing director of the group, now faces the painful task of leading the company without his son.
What Was Parag Desai’s Contribution to Wagh Bakri?
Parag joined the family business in 1990, and it was under his leadership that Wagh Bakri saw exponential growth, crossing significant milestones in turnover. Founded by Narandas Desai in 1980, Wagh Bakri Tea Group has always been a family enterprise, and Parag’s contribution was pivotal in its rise to prominence. Today, the group boasts a turnover of over Rs. 2000 crore and distributes over 50 million kg of tea.
What is Known About His Net Worth?
While the exact figures of Parag Desai’s net worth remain undisclosed, it is evident from the company’s performance that he held substantial wealth. The company’s official data reveals that the Wagh Bakri Tea Group has a turnover exceeding Rs. 2000 crore. Given Parag’s instrumental role in the business and its growth trajectory, it’s safe to say that he held a significant stake in the family enterprise.
How Did Parag Contribute to Social Causes?
Apart from his business acumen, Parag Desai was also a philanthropist at heart. He championed the cause of the visually impaired by running the Blind People’s Association (BPA) in Ahmedabad. His compassion for animals was evident through his association with Jivdaya Charitable Trust, an organization dedicated to running an animal hospital in the city.
Parag Desai’s untimely death is not only a loss to his family and the Wagh Bakri Tea Group but also to the many social causes he supported. His contributions to both business and society will remain etched in memories for years to come. As the business world mourns the loss of a visionary leader, it is also a moment to reflect on the legacy he leaves behind and the footprints he has imprinted on the sands of time.