Bengaluru: Britannia Industries Ltd., one of India’s leading food companies, today announced a significant leadership transition, marking a new chapter in its growth journey.
Varun Berry, Vice-Chairman, Managing Director & Chief Executive Officer, has tendered his resignation and will step down from his role with effect from the close of business hours today, November 10, 2025. The Board of Directors, upon the recommendation of the Nomination & Remuneration Committee, accepted his resignation and waived his notice period obligations.
During his tenure, Berry was instrumental in transforming Britannia into a modern, innovation-driven food enterprise, expanding its portfolio, strengthening profitability, and building an agile organization. The Board placed on record its deep appreciation for his outstanding contributions and wished him continued success in his future endeavours.
To ensure seamless continuity, the Board has appointed N. Venkataraman, currently Executive Director and Chief Financial Officer, to hold additional charge as Chief Executive Officer of the Company in the interim, until the new leadership takes charge.
Effective December 15, 2025, Rakshit Hargave will assume the role of Managing Director and Chief Executive Officer of Britannia Industries Ltd.
Hargave joins Britannia from Grasim Industries, where he served as Chief Executive Officer of Birla Opus, the paints venture of the Aditya Birla Group. At Birla Opus, he was credited with steering both the start-up and scale-up phases of the decorative paints business—building a high-performing team, commissioning six integrated manufacturing facilities, and establishing a robust nationwide distribution and supply chain network.
A seasoned business leader, Hargave brings over two decades of experience across leading consumer goods companies including Beiersdorf (makers of NIVEA), Hindustan Unilever, Jubilant FoodWorks, Nestlé India, and Tata Motors. He holds an MBA from the Faculty of Management Studies (FMS), Delhi, and a degree in Electrical Engineering from the Indian Institute of Technology (IIT), Varanasi.
In its meeting held on November 5, 2025, the Board also reaffirmed its strategic vision to transform Britannia into a global total foods company. The key growth levers identified include:
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Leadership in innovation and diversification
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Aggressive regional competitiveness backed by cost efficiencies
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Profit improvement through topline growth and market share gains
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Focused expansion in adjacency businesses
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Scaling the company’s international footprint
Welcoming Hargave, the Board stated, “We are delighted to have Rakshit join Britannia at this exciting phase of transformation. His deep experience in building brands, driving operational excellence, and leading large teams aligns perfectly with our ambition to become a global total foods company.”
With this transition, Britannia enters a new era of leadership aimed at accelerating growth, innovation, and global expansion.
