Britannia Industries Shares Price Slide Over 4% After CEO Varun Berry Resigns

Mumbai, November 11, 2025: Britannia Industries Ltd. share price saw a sharp decline on Tuesday, falling over 4% to ₹5,889 as of 12:40 PM on NSE and BSE. The fall came immediately after the company announced the resignation of its long-serving MD & CEO, Varun Berry, who stepped down after 13 years with the firm. The stock opened at ₹5,950 and has been trading in a range of ₹5,950 to ₹5,723, with a volume of 15.89 lakh shares.

Britannia’s market capitalization currently stands at ₹1,47,736.60 crore, and its P/E ratio is above the industry median of 63.80. The sudden price drop reflects investor concern over the leadership change, as Berry played a key role in driving Britannia’s premiumisation strategy and geographic expansion over the past decade.

Leadership Transition

The company’s board accepted Varun Berry’s resignation in its meeting on November 10, 2025. He was relieved of his duties immediately, with his notice period waived, as per the company’s regulatory filing.

The Board has named Mr Rakshit Hargave as the new Managing Director and Chief Executive Officer. He will step in on December 15, 2025. In the meantime, the company has appointed Executive Director and CFO N. Venkataraman as the Interim CEO of the company.

An IIT Varanasi and FMS Delhi graduate, Mr Hargave has worked as the CEO of Birla Opus’ paints venture for Grasim Industries. He has held senior positions at Beiersdorf (NIVEA), Hindustan Unilever, Jubilant FoodWorks, Nestlé India and Tata Motors.

Outlook and Board Commentary

The Board reiterated its growth vision to transition Britannia into a global total foods company. It also highlighted five key focus areas, such as innovation, regional competitiveness, profitability improvement, expanding adjacencies, and international growth. The Board is confident in the management team under the new leadership. It is confident that it will be able to take the company to greater heights.

REF:https://nsearchives.nseindia.com/corporate/BRITANNIA1_10112025183853_Intimation_signed_Changeindirectorate.pdf

https://nsearchives.nseindia.com/corporate/BRITANNIA1_10112025184453_Press_Release.pdf

Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.

If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.

Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations