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Britannia Industries on Monday, November 10, announced that Varun Berry has resigned as Executive Vice-Chairman, Managing Director and Chief Executive Officer of the company with effect from the close of business hours on November 10, 2025.
The company said Berry tendered his resignation on November 6, and the board, at its meeting held on Monday, approved the waiver of his notice period. Consequent to his resignation, Berry also ceases to be a member of several board committees, including the Stakeholders Relationship, CSR, Risk Management, Finance, Strategy and Innovation Steering, and IT committees.
In the interim, Executive Director and Chief Financial Officer Natarajan Venkataraman has been appointed as the interim Chief Executive Officer, effective immediately, until the new CEO assumes office.
Britannia had earlier announced the appointment of Rakshit Hargave as Managing Director and CEO for a term of five years, effective December 15, 2025. Hargave, who previously served as CEO of Birla Opus, has also held leadership roles at Beiersdorf, Hindustan Unilever, and Jubilant Foodworks.
Berry’s departure marks the end of an era for the biscuit-to-dairy major. He joined Britannia in 2013 as COO and took over as Managing Director the same year, steering the company through a decade of transformation that saw its market capitalisation multiply nearly sixfold. Under his leadership, Britannia expanded beyond its core biscuits business into adjacencies like dairy, cakes, and breads, and sharpened its focus on premiumisation, profitability, and rural reach.
He was widely credited for driving operational efficiency and cost control during periods of volatile input prices, while also leading the company’s digital supply chain and distribution revamp. The FMCG firm’s sharp rise in margins and return ratios during his tenure cemented Berry’s reputation as one of the most successful leaders in the Indian consumer goods space.
The shares of the FMCG major ended 0.4% in the red on Monday. The stock has gained close to 28% in the year so far.
Also Read: Doms Industries Q2 Results: Profit up 14% YoY, revenue rises 24% on healthy demand
The company said Berry tendered his resignation on November 6, and the board, at its meeting held on Monday, approved the waiver of his notice period. Consequent to his resignation, Berry also ceases to be a member of several board committees, including the Stakeholders Relationship, CSR, Risk Management, Finance, Strategy and Innovation Steering, and IT committees.
In the interim, Executive Director and Chief Financial Officer Natarajan Venkataraman has been appointed as the interim Chief Executive Officer, effective immediately, until the new CEO assumes office.
Britannia had earlier announced the appointment of Rakshit Hargave as Managing Director and CEO for a term of five years, effective December 15, 2025. Hargave, who previously served as CEO of Birla Opus, has also held leadership roles at Beiersdorf, Hindustan Unilever, and Jubilant Foodworks.
Berry’s departure marks the end of an era for the biscuit-to-dairy major. He joined Britannia in 2013 as COO and took over as Managing Director the same year, steering the company through a decade of transformation that saw its market capitalisation multiply nearly sixfold. Under his leadership, Britannia expanded beyond its core biscuits business into adjacencies like dairy, cakes, and breads, and sharpened its focus on premiumisation, profitability, and rural reach.
He was widely credited for driving operational efficiency and cost control during periods of volatile input prices, while also leading the company’s digital supply chain and distribution revamp. The FMCG firm’s sharp rise in margins and return ratios during his tenure cemented Berry’s reputation as one of the most successful leaders in the Indian consumer goods space.
The shares of the FMCG major ended 0.4% in the red on Monday. The stock has gained close to 28% in the year so far.
Also Read: Doms Industries Q2 Results: Profit up 14% YoY, revenue rises 24% on healthy demand
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