Britannia Industries elevates Varun Berry, appoints Rajneet Kohli as CEO
The company also announced that it has elevated Varun Berry to Executive Vice-Chairman and Managing Director.
PremiumBritannia Industries, maker of the popular Good Day and Tiger biscuits, said on Friday it has appointed Rajneet Kohli as its Executive Director & Chief Executive Officer. The company also announced that it has elevated Varun Berry to Executive Vice-Chairman and Managing Director.
Kohli will takeover as the position w.e.f 26th September, 2022 and will report to Varun Berry, the company said in a BSE filing.
Commenting on his appointment, Rajneet Kohli added, “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".
Speaking on the appointment, Varun Berry 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," he further added.
His appointment to what is reportedly a newly created CEO role at Britannia comes at a time when the industry is grappling with margin concerns amid soaring inflation.
Britannia reported a 13.4 percent fall in June-quarter profit in August, missing analyst estimates, as expenses jumped.
Britannia, over 100 years old, is present in more than 80 countries across North America, Europe, Africa, Southeast Asia and the Middle East. The household name also make cakes, bread and dairy products.
(With inputs from Reuters)
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