Britannia Names Rakshit Hargave New CEO, Effective Dec 2025

A New Era of Leadership at Britannia

Britannia Industries, a stalwart in the Indian food sector, has announced a significant leadership change with the appointment of Rakshit Hargave as its new Chief Executive Officer and Managing Director. The transition marks the end of Varun Berry's nearly 13-year tenure. Hargave is set to assume his new role on December 15, 2025, for a five-year term, steering the company into its next phase of growth and diversification.

The Sudden Departure of Varun Berry

The announcement followed the sudden resignation of Varun Berry as Executive Vice-Chairman, Managing Director, and CEO, effective November 10, 2025. Berry's departure came as a surprise, considering his term was originally set to end in March 2029. He had joined Britannia as Chief Operating Officer in 2013 and was instrumental in the company's consistent growth and portfolio expansion over the last decade. The company's board accepted his resignation and approved a waiver of his notice period, facilitating a swift transition.

Interim Leadership and Smooth Transition

To ensure operational continuity during the transition period, the board has appointed N. Venkataraman, the current Executive Director and Chief Financial Officer, as the Interim CEO. Venkataraman will hold this additional charge from November 10, 2025, until Rakshit Hargave officially takes over on December 15, 2025. This move is designed to maintain stability and momentum as the company prepares for the new leadership.

Introducing Rakshit Hargave

Rakshit Hargave brings over 30 years of extensive experience in the consumer goods, retail, and manufacturing sectors across both Indian and global markets. Before this appointment, he served as the Chief Executive Officer of Birla Opus, the paints business of Grasim Industries under the Aditya Birla Group. During his tenure there, he was pivotal in scaling the decorative paints business, establishing six integrated manufacturing facilities, and building a robust distribution and supply chain network. His impressive career also includes leadership roles at prominent companies such as Beiersdorf, Hindustan Unilever, Jubilant Foodworks, Nestle India, and Tata Motors.

Key Leadership Changes Summarized

Formalities and Strategic Vision

Hargave's appointment as an Additional Whole-Time Director and CEO was recommended by the Nomination and Remuneration Committee. His five-year term, which extends from December 15, 2025, to December 14, 2030, is subject to the approval of the company's shareholders. Britannia has initiated a postal ballot process to secure this approval. The leadership change aligns with Britannia's strategic focus on diversifying its product portfolio beyond biscuits and dairy and accelerating its transformation into a global food company. Hargave's immediate priorities will include sustaining growth momentum in a competitive market and advancing the company's international expansion plans.

Market Response and Outlook

The market reacted positively to the leadership announcement. Following the news of Hargave's appointment, shares of Britannia Industries surged by 4%, indicating investor confidence in the new leadership's ability to drive future growth. Stakeholders will be closely watching how Hargave leverages his vast experience to navigate the evolving challenges in the FMCG landscape and steer the 100-plus-year-old company toward new milestones.

Conclusion

The appointment of Rakshit Hargave marks a new chapter for Britannia Industries. With a seasoned leader at the helm, the company is poised to strengthen its market position, innovate its product offerings, and expand its global presence. The structured transition, overseen by an experienced interim CEO, ensures that the company remains on its growth trajectory while preparing for a new strategic direction under Hargave's leadership.