Overview
- Britannia’s board accepted Varun Berry’s resignation and waived his notice period, relieving him at the close of business on November 10.
- Executive Director and CFO N. Venkataraman will serve as interim CEO until Rakshit Hargave joins on December 15.
- Hargave has been named Managing Director and CEO effective December 15, coming from Birla Opus with senior roles across major consumer and operations firms.
- The transition follows the board’s November 5 focus on innovation, diversification, cost efficiency, adjacency growth, and international expansion.
- Shares fell as much as 6.7% in early trade on November 11 before trimming losses to about 4.9%, according to NDTV Profit.