Shares of Britannia Industries Ltd ended at Rs 3,792.00, down Rs 36.10, or 0.94% on BSE.
Britannia Industries Ltd (BIL) said on Friday (September 23) that its board had elevated Varun Berry to executive vice president and chief executive with immediate effect.
The baking giant also announced the appointment of Rajneet Kohli as Executive Director and CEO, effective September 26, 2022. Rajneet Kohli will report to Varun Berry.
Commenting on the appointment, Berry said: “I am delighted to welcome Rajneet to Britannia. His experience in building successful businesses and profitable brands is strongly aligned with our vision to become a responsible global Total Foods company.
“Rajneet’s proven track record of building businesses and building highly engaged teams makes him an ideal fit for the Organization. I look forward to partnering with Rajneet to lead us into the next phase of growth,” he added.
Commenting on his appointment, Kohli added: “As one of India’s leading food companies with a heritage of over 100 years, Britannia has an outstanding track record of innovation and consumer service with exemplary standards. . I feel privileged and I’m really excited about what lies ahead. from us to Britannia.”
Rajneet has held numerous management positions during his 25+ year career with Asian Paints and Coca-Cola and joins Britannia from India’s largest foodservice company Jubilant FoodWorks (JFL).
Under his leadership, Jubilant FoodWorks achieved sustained profitable growth and established itself as the nation’s largest Quick Service Restaurant (QSR) chain with over 1,600 stores. Additionally, he has also been instrumental in leading several deep-rooted transformational changes in technology.