Varun Berry has resigned from his positions as the vice-chairman, managing director, and chief executive officer of Britannia Industries after 13 long years, sending the company’s stocks into a tailspin. His resignation was accepted by the board with immediate effect on 10 November 2025.
The company has appointed Rakshit Hargave as the new managing director and chief executive officer, a role he will officially assume on 15 December 2025. In the interim period, N Venkataraman, the executive director and chief financial officer, is serving as the interim CEO.
Berry had a significant 13-year tenure at Britannia, where he played a pivotal role in the company’s growth and diversification, expanding it from a biscuit-focused company into a broader food enterprise. His sudden departure, without serving a notice period, surprised investors and led to a decline in Britannia’s share price.
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Naresh Khanna – 10 February 2025
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