Britannia CEO Varun Berry Resigns, Natarajan Venkataraman Gets Interim Charge

Britannia Industries Ltd. on Monday notified the exchanges that its incumbent managing director and chief executive officer, Varun Berry, has stepped down from his role.

Accordingly, the company has appointed Natarajan Venkataraman as the interim CEO with immediate effect, according to the regulatory filing. This will be in addition to his incumbent charge of chief financial officer and executive director.

Venkataraman hold the interim charge till Dec. 15, 2025, when Rakshit Hargave is scheduled to take over as Britannia's MD and CEO. Hargave, whose appointment was confirmed last week, had earlier served as the CEO of Birla Opus, the paints venture of Aditya Birla Group.

Berry, the departing MD and CEO, was associated with Britannia for the last 12 years. He was elevated to the top managerial position in May this year.

Prior to joining Britannia in 2013, Berry worked with PepsiCo for around 10 years.

Britannia, in a press release, stated that the company's board "placed on record his contribution", and decided to waive off the notice period that he was to serve after submitting his resignation.

"Accordingly, his resignation shall be effective, and he shall be relieved from the close of business hours today i.e. 10th November 2025, from his position as Vice-Chairman, Managing Director and Chief Executive Officer of the Company," it stated.

Hargave, who will take over the full-time MD and CEO charge in December, is seen as an industry veteran, with stints at Hindustan Unilever, Jubilant Foodworks, Nestle India and Tata Motors, apart from Birla Opus.

The transition comes at a time when Britannia's board has chalked out its strategy for the next phase of growth. The company aims to become a "global total foods company" in the coming years, according to a note issued following its board meeting on Nov. 5.

To achieve this goal, it has identified five levers of growth, including innovation and diversification; "aggressively" addressing regional competitors by supporting cost efficiencies; improving profit through growth in top-line and gain in market share; "focussed growth in adjacency businesses"; and expansion of international footprint.

On Monday, Britannia's shares closed 0.46% lower at Rs 6,132.15 on the BSE, as against a 0.38% rise in the benchmark Sensex.