In a major leadership change, Britannia Industries announced that its vice-chairman, managing director, and chief executive officer, Varun Berry, has resigned after a distinguished 13-year tenure at the company.
The board accepted his resignation during its meeting on November 10, 2025, marking the end of a transformative era for the FMCG major.
Varun Berry joined Britannia Industries in 2013 as chief operating officer and became managing director on April 1, 2014. Under his leadership, the company evolved from a traditional biscuit manufacturer into a diversified food enterprise. Over the years, Britannia’s revenue surged 1.28 times to ₹17,943 crore in FY25, while profit before interest, depreciation, and tax improved from 9.7% in FY14 to 18.8% in FY25, peaking at 21.5% during his term.
Berry’s strategic initiatives in innovation, cost optimisation, and category expansion helped establish Britannia as one of India’s most respected food brands. The company’s market capitalisation rose sharply from ₹10,116 crore in March 2013 to nearly ₹1.48 trillion by November 10, 2025.
Following Berry’s resignation, Britannia’s board appointed N. Venkataraman, executive director and chief financial officer, as interim CEO. The company confirmed that Rakshit Hargave, who was appointed CEO earlier this month, will formally assume charge as managing director on December 15, 2025. Hargave previously led Birla Opus, the Aditya Birla group’s paints venture.
Read More: Britannia Share Price Surges 5% After Q2 FY26 Earnings Net Profit Rise!
In his resignation note to Chairman Nusli Wadia, Berry expressed gratitude for the support he received over 13 years, pledging to assist in the transition phase. His tenure marked a period of significant growth and diversification for Britannia, expanding its presence into dairy, snacks, and adjacent categories. The company also strengthened its supply chain efficiency and global reach.
On November 11, 2025, Britannia Industries share price opened at ₹5,950.00 on NSE, below the previous close of ₹6,133.50. During the day, it surged to ₹5,950.00 and dipped to ₹5,723.00. The stock is trading at ₹5,736.00 as of 9:19 AM. The stock registered a significant decline of 6.48%.
Over the past week, it has declined by 2.66%, over the past month, it has declined by 2.15%, and over the past 3 months, it has moved up by 6.59%.
Varun Berry’s departure marks the close of a defining chapter in Britannia’s growth story. His leadership laid the foundation for sustained expansion and profitability. As Rakshit Hargave prepares to take charge, Britannia enters its next phase of evolution with a renewed focus on innovation and global scale.
Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in securities are subject to market risks. Read all related documents carefully before investing.
Published on: Nov 11, 2025, 1:50 PM IST
Team Angel One
We're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
