‘Relieved from services’: Britannia CEO Varun Berry steps down; Rakshit Hargave to take over from December 15

NEW DELHI: Britannia Industries Ltd announced on Monday that Varun Berry has resigned from his positions as executive vice-chairman, managing director and chief executive officer after leading the company through ten years of expansion and growth.Berry submitted his resignation on November 6, 2025, which the company’s board acknowledged and accepted during their meeting on November 10, agreeing to waive the notice period requirement.The company’s regulatory filing, cited by Economic Times stated, “Accordingly, he shall be relieved from the services of the company with effect from the close of business hours on November 10, 2025.”With his departure, Berry will no longer participate in board committees, including Stakeholders Relationship, CSR, Risk Management, Finance, Strategy and Innovation Steering, and IT Committees.The announcement signifies the exit of a prominent figure in India’s consumer goods sector. Since becoming managing director in 2014, Berry led the company’s transformation from a biscuit manufacturer of Good Day, Marie Gold and NutriChoice into a diverse food enterprise, venturing into dairy and snacking segments.Following recommendations from the Nomination and Remuneration Committee, Britannia has selected Rakshit Hargave as the new CEO and MD for five years, starting December 15, 2025. Natarajan Venkataraman, executive director and chief financial officer, will serve as interim CEO until Hargave takes charge.ET previously reported Hargave’s resignation as Chief Executive Officer of Birla Opus on November 1, indicating his imminent move to Britannia Industries in a senior position.According to ET sources familiar with the matter, Hargave was expected to report to Varun Berry and assume the CEO position, replacing Rajneet Singh Kohli, who departed from Britannia in March this year.After Kohli’s departure, Berry had been performing CEO duties alongside his roles as chairman and managing director. ET also noted that Birla Opus, a Grasim Industries subsidiary, informed stock exchanges about Hargave’s planned departure on December 5. Hargave’s resignation letter mentioned his intention to “pursue career opportunities outside the company.” His tenure at Birla Opus began in November 2021.