1. Mr. Varun Berry, Vice-Chairman, Managing Director & Chief Executive Officer of the Company submitted his resignation letter and proposed to serve the notice period as per his employment contract. The Board of Directors of the Company, on recommendation of Nomination & Remuneration Committee, at their respective meetings held today accepted his resignation and waived off Mr. Varun Berry’s obligation to serve the notice period. Accordingly, his resignation shall be effective, and he shall be relieved from the close of business hours today i.e. 10th November 2025, from his position as Vice-Chairman, Managing Director & Chief Executive Officer of the Company. The Board placed on record his contributions to the Company and wished him all the best in his future endeavours.
2. The Board at the meeting also appointed Mr. Rakshit Hargave as Managing Director and Chief Executive Officer from 15th December 2025. We are delighted to welcome Rakshit to lead Britannia into the future.
In the interim, N. Venkataraman currently the Executive Director and Chief Financial Officer will hold additional charge as Chief Executive Officer of the Company, till the joining of Mr. Rakshit Hargave.
3. Rakshit held the position of Chief Executive Officer of Birla Opus, the Paints venture of Grasim Industries (Aditya Birla Group) in his previous assignment. As acknowledged by Grasim Industries in their stock exchange filing, he played a significant role at both the start-up & scaling up stages of the decorative paints business, helped build a high performing team, established 6 integrated manufacturing facilities & scaled distribution & supply chain network nation-wide which formed a strong foundation for the company to grow its paint brand & business.
4. Prior to that, he managed operational, sales, marketing and leadership roles of various businesses of Companies such as Beiersdorf (makers ofNIVEA), Hindustan Unilever, Jubilant Foodworks, Nestle India & Tata Motors, within & outside India. Rakshit is an MBA from Faculty of Management Studies, Delhi and holds a degree in Electrical Engineering from the Indian Institute of Technology, Varanasi.
5. The Board of Directors of the Company at its meeting held on 5th November 2025 identified and noted following levers of growth for it to become a global total Foods Company in the coming years:
a. Leadership in innovation and diversification
b. Aggressively address regional competitors supported by cost efficiencies
c. Profit improvement through growth in top line and market share gain
d. Focused growth in adjacency businesses
e. Expansion of International footprint
6. The Board is confident that the management team under the new leadership will be able to take the Company to newer heights.
