Varun Berry resigns as Britannia CEO after 13 years; Rakshit Hargave to take charge from December 15
Varun Berry, executive vice-chairman, managing director and CEO of Britannia Industries will leave the IT giants after serving 13 years in the company.
Aadrika Tayal 
New Delhi (India) November 12: Varun Berry has stepped down as the chief executive officer of Britannia Industries Ltd, less than a week after the company announced its second-quarter results. Indeed, Berry had handed in his papers the following day. The resignation will be effective immediately as the company's board of directors has approved to forgo notice period in respect of resignation submitted by the outgoing CEO, according to an exchange filing on Monday.
Berry Steps Down After 13-Year Tenure at Britannia
In a letter to chairman Nusli Wadia dated 6 November, Berry has offered his resignation and said he would work out the stipulated notice period as per his employment contract.
Berry wrote, “Thank you very much for your support for the past 13 years. I would like to tender my resignation from the position of CEO and Managing Director of Britannia Industries Ltd. Will serve my notice period as per the contract."
"Please treat Nov 6, 2025 as the date of my resignation. I will be available beyond my departure from the company to guide Rakshit in whichever way you may want. I hope Britannia goes from strength to strength in the coming years.”
The board has on the recommendation of the Nomination and Remuneration Committee, approved his resignation and relieved him from his responsibilities with effect from end of business hours on 10 November 2025.
Transforming Britannia into a ‘Total Foods’ Powerhouse
Berry was hired by Britannia in 2013 as vice president and COO. He essentially was the face of the company, changing Britannia from only a biscuit maker to a successful force in food sector.
He also repositioned the company as a “total foods” business, moving it away from its biscuit and cookie concentration toward other categories including croissants, wafers and dairy drinks, fueling market share gains. It has also broadened its cheese portfolio through a 2022 joint venture with French cheese manufacturer Bel SA to market the company’s The Laughing Cow brand in India.
Berry has more than 30 years of experience in consumer products companies. Prior to Britannia, he was with PepsiCo India in various leadership roles for almost 15 years and at Unilever India (now HUL) for around six years where he worked as marketing manager with the Brooke Bond tea brand.
Rakshit Hargave Appointed New MD & CEO from December 15
The company's board has approved appointment of Additional Director Rakshit Hargave as MD& CEO of Britannia Industries from 15 December. In the meantime, CFO Natarajan Venkataraman will have two hats.
Berry said Hargave is a “fantastic choice” for the role during a call last week to discuss the company’s earnings.
Hargave comes to Britannia from Birla Opus, the paints business of Grasim Industries (Aditya Birla Group), where he was CEO. Before Birla Opus, Hargave took charge of leadership as well as operational and marketing responsibilities at Beiersdorf (Nivea), Hindustan Unilever, Jubilant FoodWorks, Nestlé India and Tata Motors in India and overseas. He is IIT Varanasi and FMS Delhi alumnus by education-technical and management, respectively.
