Shares of Britannia Industries Ltd ended at Rs 3,792.00, down by Rs 36.10, or 0.94 percent on the BSE.
Britannia Industries Ltd (BIL) on Friday, September 23, said its board has elevated Varun Berry to executive vice-chairman and managing director with immediate effect.
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The bakery giant also announced the appointment of Rajneet Kohli as executive director and the chief executive officer (CEO), effective from September 26, 2022. Rajneet Kohli will report to Varun Berry.
Speaking on the appointment, Berry said, "I am delighted to welcome Rajneet to Britannia. His experience in 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 make him a perfect fit for the Organization. I look forward to partnering with Rajneet to lead us to the next phase of growth," he added.
Commenting on his appointment, 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."
Rajneet has served in numerous senior leadership roles during his 25-plus year career in Asian Paints and Coca-Cola and joins Britannia from India’s largest food services company Jubilant FoodWorks (JFL).
Under his leadership, Jubilant FoodWorks has delivered sustained profitable growth and emerged as the largest quick service restaurant (QSR) chain in the country with over 1,600 stores. Moreover, he has also been instrumental in leading several transformational changes deeply embedded in technology.