It was February 2008. The aircraft settled on to the tarmac at Changi airport. As I stepped into the terminal, it felt like entering a meticulously organised world. There was a sense of order that prevailed from the neatly arranged baggage carousels to the clearly marked pathways. This was a subtle but powerful introduction to the Singaporean ethos of efficiency and precision.
Singapore was a highly sought-after location within Nestlé. Accompanied by my wife Rajita and daughter Avanti, we were filled with anticipation for the adventures that awaited us in this land of palpable possibilities, brimming with promise.
February in Singapore wasn’t just a month. The mood was carnivalesque. In Chinatown, crimson and gold lanterns felt like embers whispering ancient blessings into the humid air. Its gastronomic landscape was a joyous siege of the senses from venerated street hawker stalls to world-renowned Michelin-starred restaurants drawing food enthusiasts.
Once a swampland, Singapore is home to over six million people and 95 ethnic groups, who contributed to the island’s economic and social resilience. I took on the role of managing director at Nestlé Singapore Pte. Ltd from 2008—until June 2010.
Singapore | Shutterstock
As we settled into our new life, I found myself ruminating about the essence of Singapore—a place that not only thrived on innovation and progress but also championed values that resonated deeply with my own. One initiative that struck a chord was the Singapore Kindness Movement. It was launched several years ago, in response to the then-prime minister Goh Chok Tong’s vision of a gracious society. In a world often characterised by haste and indifference, the deliberate cultivation of kindness felt like an admirable pursuit.
During my initial couple of months in Singapore, the existing organisational processes seemed to function smoothly. However, this period of relative stability came to an abrupt halt with the collapse of Lehman Brothers in the US in September 2008. The repercussions careened worldwide, leading to the greatest economic downturn in the US since the stock market crash of 1929.
Sullivan O Carroll was my boss at that time.We engaged with the Singaporean government and Lam Pin Woon, from the Health Promotion Board. We worked closely with Brother Joe from the Employee Union and Tan Boon Huat, the CEO of People’s Association, all three were very inspiring figures.
Singapore, being a globally connected economy, was the first Asian economy to slip into recession in the third quarter of 2008. A sombre Singapore prime minister Lee Hsien Loong in his speech stated that “the world is caught up in a financial storm, and dark clouds fill our immediate horizon”. The air in Singapore in late 2008 had a subtle shift, a barely perceptible tightening, like the pause before a downpour. Retrenchment rumours began swirling the city, like a dark malevolent glint.
Despite the worldwide economic crisis, my responsibility remained to ensure growth for Nestlé Singapore. At this point I made some hard-nosed assessment, perused the environment and introduced certain dramatic business changes. And we watched-on how the numbers stacked up. We engaged with the Singaporean government and the Health Promotion Board.
Despite the economic gloom, we went ahead and celebrated the 40th anniversary of the Nestlé factory. It may have been foolhardy or courageous, but we took a decision about the future of our employees. We remained determined and not deterred. In the factory I publicly stated that no ‘employees would be retrenched, neither from the company nor the factory’ and directly addressed the fundamental human need for stability and the dignity that comes with earning a living. The 40th anniversary celebration became more than just a commemoration of the past; it became a symbol of a secure future for the Nestlé family.
Amid the economic tempest, Nestlé Singapore demonstrated consistent growth. The dedication of our team and their resilience that weathered the tempest and skilfully chartered a course towards continued growth and stability. The story of those months in Singapore wasn’t just about navigating a financial crisis; it was about putting people first.
Narayanan is chairman & managing director, Nestle India