Britannia Industries CEO Rajneet Singh Kohli steps down with effect from March 14, stock edges lower ahead of closing

Britannia Industries announced on Thursday, March 6, that Rajneet Singh Kohli, the chief executive officer (CEO) and executive director of the fast-moving consumer goods (FMCG) major, has resigned. Kohli will be relieved from services on March 14, 2025, his last working day at the FMCG company.

In his resignation letter, the top executive said he had resigned to pursue an external opportunity. He was appointed CEO of the company on September 26, 2022. Before joining Britannia, the 50-year-old leader had held leadership roles at major firms such as Domino's India, run by Jubilant Foodworks, Popeyes, Dunkin, Asian Paints and US beverage giant Coca-Cola Co.

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Britannia CEO resigns, stock edges lower

"The Board of Directors of the Company vide Circular Resolution passed today, i.e., March 6, 2025, has noted the resignation of Rajneet Singh Kohli, and he shall be relieved from the services of the company w.e.f close of business hours on March 14, 2025," said Britannia in a regulatory filing to the stock exchanges on Thursday. Britannia CMO Amit Doshi also stepped down in February 2025 after a three-year stint at the leading biscuit maker.

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Britannia did not name Kohli's successor. The FMCG giant beat third-quarter profit estimates in February, benefiting from price hikes and a rebound in rural demand. The company has benefitted from price hikes to counter rising input costs, helping it beat its latest third-quarter profit estimates.

After Kohli's resignation notice, Varun Berry, Executive Vice-Chairman and Managing Director of Britannia Industries, said, “Rajneet Singh Kohli has decided to resign from the services of the company to pursue an external opportunity. We thank him for his contribution during his tenure as the CEO and member of the Britannia board and wish him the best in his future endeavours.”

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Britannia, which sells 'Jim Jam' and 'NutriChoice' biscuits, reported a five per cent increase in consolidated net profit to ₹582 crore for the three months ended December 31. Under Kohli's leadership, Britannia's shares rose nearly 25 per cent as it focused on product diversification, entering the healthy food segment, and expanding manufacturing plants in Odisha and Bihar. After the announcement, shares of Britannia Industries edged lower by 0.58 per cent to ₹4,692.85 apiece on the BSE ahead of market closing.