Britannia CEO Varun Berry Resigns After 12 Years – Successor Plan Revealed

Britannia Industries Ltd. on Monday announced the resignation of its Managing Director and Chief Executive Officer, Varun Berry, marking a major leadership change at one of India’s most prominent FMCG companies. The company stated that Natarajan Venkataraman has been appointed as the interim CEO with immediate effect. He will hold the position until December 15, 2025, when Rakshit Hargave assumes charge as the new MD and CEO.

According to the company’s regulatory filing, Berry’s resignation became effective at the close of business hours on November 10. The Britannia board expressed its appreciation for his long-standing contribution and waived his notice period. Berry’s association with Britannia spans over 12 years, during which he played a pivotal role in driving the company’s growth and transformation. Before joining Britannia in 2013, he spent nearly a decade with PepsiCo and was elevated to the top role at Britannia earlier this year.

Rakshit Hargave, who is scheduled to take over full charge in December, is a seasoned industry veteran. His prior leadership roles include positions at major consumer brands such as Hindustan Unilever, Jubilant Foodworks, Nestle India, Tata Motors, and most recently, Birla Opus — the paints venture of the Aditya Birla Group. The company believes his diverse experience will help steer Britannia’s next growth phase.

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The leadership transition comes at a crucial time for Britannia, which recently outlined an ambitious strategy to evolve into a “global total foods company.” During its board meeting on November 5, the company identified five strategic growth levers — increasing innovation and diversification, countering regional competition through cost efficiency, driving profit and market share growth, expanding adjacent businesses, and strengthening its international presence.

Despite the major management development, Britannia’s shares closed 0.46 percent lower at Rs 6,132.15 on the BSE on Monday, even as the benchmark Sensex rose by 0.38 percent. Market analysts view the leadership change as part of Britannia’s broader long-term succession and expansion plan rather than a short-term disruption.

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