The Board of Directors accepted Berry’s resignation with immediate effect, waiving the notice period as per his employment contract. He stepped down from his position effective close of business hours on November 10, 2025.
In the same meeting, the Board appointed Rakshit Hargave as the new Managing Director and Chief Executive Officer, effective December 15, 2025. Until Hargave assumes charge, Executive Director and Chief Financial Officer N. Venkataraman will take on the additional responsibility of Chief Executive Officer.
Hargave previously served as the CEO of Birla Opus, the paints business of Grasim Industries (Aditya Birla Group), where he played a key role in building a high-performing team, establishing six integrated manufacturing facilities, and scaling up distribution and supply chain networks across India.
His prior experience also includes leadership roles at companies such as Beiersdorf (makers of NIVEA), Hindustan Unilever, Jubilant Foodworks, Nestle India, and Tata Motors, both in India and abroad. He holds an MBA from the Faculty of Management Studies, Delhi, and an engineering degree from IIT Varanasi.
In addition to the leadership transition, the board identified several growth levers during its meeting. These include driving leadership in innovation and diversification, addressing regional competition through cost efficiencies, focusing on profit improvement via top-line and market share growth, exploring adjacency businesses, and expanding Britannia’s international footprint.The board also expressed confidence in the new leadership team and its ability to steer the company to greater heights. Also read: Tata Motors CV arm listing date announced. Check details
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