Britannia appoints Varun Berry as executive VC, MD & Rajneet Kohli as CEO

Britannia Industries on Friday said that its board has elevated Varun Berry as executive vice‐chairman and managing director with immediate effect and also appointed Rajneet Singh Kohli as executive director and chief executive officer.

In an exchange filing, the company said that Kohli's appointment will be effective from 26 September 2022 for a perioid of five years and he will report to Varun Berry. He is not debarred from holding the office of director by virtue of any SEBI order or any other authority, the company added.

Rajneet Kohli previously was working with Jubilant Food Works (JFL) as the president & chief business officer for Domino's Pizza. He has more than 25 years of experience in numerous senior leadership roles in sectors like FMCG & retail.

Varun Berry, executive vice-chairman and managing director said, I am delighted to welcome Rajneet to Britannia. His experience of building high performance businesses and profitable brands is strongly aligned to our vision of becoming a responsible global total foods company. Rajneet's proven track record of scaling up businesses and building highly engaged teams makes him a perfect fit for the Organization. I look forward to partnering with Rajneet to lead us to the next phase of growth.''

Rajneet Kohli said, As one of India's leading food companies with over a 100-year legacy, Britannia has an exceptional track record of innovation and serving consumers with exemplary standards. I feel privileged and am truly excited for what lies ahead of us at Britannia.

Britannia Industries is one of India's leading food companies. Its product portfolio includes biscuits, bread, cakes, rusk, and dairy products including cheese, beverages, milk, and yogurt.

The company's consolidated net profit declined 13.4% to Rs 337.44 crore despite of a 9% increase in net sales to Rs 3,653.80 crore in Q1 FY23 over Q1 FY22.

The scrip shed 0.94% to end at Rs 3792 on the BSE on Friday.

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