FMCG major Britannia Industries, on Thursday, said its Chief Executive Officer, Rajneet Singh Kohli, has stepped down from his role after serving for over two-and-a-half years.
Kohli, in his resignation letter, said he has decided to resign effective March 14 to pursue an external opportunity. “I would request you to kindly waive off my notice period and relieve me from March 14,” he said in the letter addressed to the company’s Executive Vice-Chairman and Managing Director, Varun Berry.
In a stock exchange filing, the biscuit maker said, “Rajneet Singh Kohli, Executive Director and Chief Executive Officer of the company, has submitted his resignation on March 5, 2025, to pursue an opportunity outside Britannia.”
The board of directors of the company, on Thursday, noted the resignation of Kohli and decided that he will be relieved from the services of the company with effect of close of business hours on March 14 as per his request.
Successor not named
Britannia did not name Kohli’s successor. He was appointed as a member of the executive leadership and board of the company and designated as Executive Director and CEO on September 26, 2022.
Before joining Britannia, Kohli was engaged with Jubilant Food Works (JFL) as the President & Chief Business Officer for Domino’s Pizza. Prior to JFL, he worked 14 years with Coca-Cola both in BU & Bottling side as Senior Vice-President.
Beating market estimates, Britannia Industries has announced close to 5 per cent year-on-year rise in its consolidated net profit to ₹582.30 crore during the third quarter of this fiscal from ₹555.66 crore for the same period last fiscal. During the quarter, the company’s revenue grew 6.5 per cent to ₹4,463.30 crore, backed by price hikes and a rebound in rural demand.
On Thursday, the company’s scrip ended the day at Rs 4706.90 apiece, which was down 0.29 per cent from the previous close.