The board of the bakery foods major has appointed Varun Berry as executive vice-chairman and managing director with immediate effect.
In addition, Britannia Industries has announced the appointment of Rajneet Kohli as executive director and chief executive officer from 26 September 2022. Rajneet Kohli will report to Varun Berry.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."
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."
Britannia Industries is India's largest bakery foods company and produces India's favorite brands like Good Day, Tiger, NutriChoice, Milk Bikis, Marie Gold, Little Hearts, and others and is consumed in over half of Indian households. The company is present in more than 80 countries across North America, Europe, Africa, Southeast Asia, and GCC.
The company's consolidated net profit declined 13.4% to Rs 337.44 crore on 9% increase in net sales to Rs 3,653.80 crore in Q1 FY23 over Q1 FY22.
Shares of Britannia Industries were up 0.66% at Rs 3816.95 on the BSE.
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