On September 23, 2022, Britannia Industries Ltd., a packaged food company, announced Rajneet Singh Kohli’s appointment as the Chief Executive Officer, effective as of September 26, 2022. At the same time, Varun Berry, the current managing director of the company, has retained his current position and was appointed as the executive vice chairman. Rajneet Singh Kohli, as the CEO, will report to Varun Berry.
On his appointment as the new CEO, Kohli said in a statement, “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.”
Before being appointed as the CEO, Rajneet was at Jubilant FoodWorks, heading over 1450 Domino’s restaurants in India. In his more than 24 years of experience in the food and retail industry, he has worked with some well-known brands. He was in Jubilant FoodWorks for three years, in Coca-Cola for 14 years and in Asian Paints for six years. In addition, with his deep background in Technology, he has also helped carry out several transformational changes.
Apart from the CEO position, rajneet will also hold the position of Executive director at Britannia Industries.
Britannia Industries’ board of directors appointed Varun Berry as Managing Director of the company for five years, effective from April 1 2014, to March 31 2019. Then the board, in 2018, further reappointed Berry as Britannia Industries managing director for five years, effective from April 1 2019, to March 31 2024.
On appointing Rajneet Kohli as the CEO, Varun 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 makes him a perfect fit for the Organization. I look forward to partnering with Rajneet to lead us to the next phase of growth.”
Known for their biscuits, cakes, bread and dairy products, Britannia Industries produce some of India’s favourite brands, including Good Day, Milk Bikis, Tiger, NutriChoice, Little Hearts and others. Britannia Industries have a presence across 80 countries, including Europe, North America, Africa, Southeast Asia and the Middle East.
The first quarter revenues for the company increased 9% to INR 37.6 billion, but the net profit fell 13% to INR 3.3 billion. Varun Berry announced the figures in August and said the reduced profit resulted from inflated input costs, with a 15% rise in wheat prices and 20% in fuel in the quarter.