Varun Berry Steps Down as Britannia CEO; Rakshit Hargave to Take Charge from December 15

Britannia Industries on Monday announced a major leadership transition, with Vice-Chairman, Managing Director and Chief Executive Officer Varun Berry resigning from his position with immediate effect. The company’s Board of Directors accepted Berry’s resignation at its meeting held on November 10, 2025, and waived his notice period obligation.

Berry, who has been associated with the biscuit-to-dairy major since 2013 and served as its Managing Director since 2014, will be relieved from the close of business hours today, the company said in its exchange filing. The Board placed on record its appreciation for his contributions and wished him success in his future endeavours.

In a simultaneous announcement, Britannia named Rakshit Hargave as its new Managing Director and Chief Executive Officer, effective December 15, 2025. Till Hargave assumes charge, Executive Director and Chief Financial Officer N. Venkataraman will hold additional responsibility as the interim CEO.

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Hargave joins Britannia from Birla Opus, the paints business of Grasim Industries under the Aditya Birla Group, where he played a key role in building and scaling the decorative paints business. His prior experience spans leadership and operational roles at leading companies including Beiersdorf (makers of Nivea), Hindustan Unilever, Jubilant Foodworks, Nestlé India, and Tata Motors. An alumnus of IIT Varanasi and FMS Delhi, Hargave brings over two decades of consumer and business leadership experience to his new role.

Earlier this month, Britannia’s Board identified key strategic levers for its next phase of growth as it aims to evolve into a global total foods company. These include driving innovation and diversification, strengthening cost efficiencies to tackle regional competition, expanding international presence.

Founded in 1892, Britannia Industries is one of India’s oldest and most trusted food companies, known for its wide range of bakery, dairy, and snacking products. Part of the Wadia Group, the company commands strong market leadership in biscuits and packaged foods, with popular brands such as Good Day, Marie Gold, Milk Bikis, and NutriChoice. Over the years, Britannia has expanded into dairy, cakes, breads, and international markets, positioning itself as a diversified foods player with a growing global footprint