Britannia Industries CEO Rajneet Kohli Steps Down, Shares Decline
Click to start listening
Synopsis
FMCG giant Britannia Industries announced CEO Rajneet Singh Kohli's resignation effective March 14, 2025, leading to a 0.58% drop in shares. The management noted his decision as he seeks new opportunities, marking a significant leadership change for the company.
Key Takeaways
- Kohli resigns effective March 14, 2025.
- Britannia shares dip by 0.58% post-announcement.
- Second major resignation in a month.
- Company plans price hike amid inflation concerns.
- Consolidated net profit shows modest growth.
Mumbai, March 6 (NationPress) The renowned FMCG company Britannia Industries revealed on Thursday that its Executive Director and Chief Executive Officer (CEO) Rajneet Singh Kohli has decided to resign from his role, effective March 14, 2025.
Kohli stated that he is leaving Britannia to pursue an opportunity beyond the organization.
In response, Britannia Industries shares experienced a decline of 0.58 percent, trading at Rs 4,697 on the BSE.
The board of Britannia formally acknowledged Kohli’s resignation through a resolution passed on the same day as his departure. He will be officially relieved of his responsibilities at the close of business on March 14.
"The Board of Directors of the Company, via a Circular Resolution passed today, i.e., March 6, 2025, has taken note of Rajneet Singh Kohli's resignation, and he shall be relieved from the services of the Company effective close of business on March 14, 2025," the company stated in a press release.
Kohli stepped into the role of CEO at Britannia in September 2022 and previously held significant positions at companies such as Domino's India (managed by Jubilant Foodworks), Asian Paints, and Coca-Cola Co. Britannia has not yet disclosed any plans for his successor.
This marks the second major resignation at Britannia within a month, as the company had also announced the resignation of Chief Marketing Officer Amit Doshi on February 4. Doshi resigned after a three-year tenure, with his last working day set for March 17, 2025.
Kohli had previously praised Doshi for his contributions and leadership during the announcement. Doshi joined Britannia in 2022, focusing on enhancing topline revenue and creating a roadmap for new product development.
In February, Britannia revealed plans for a 4-4.5 percent price increase to bolster profits. However, management indicated readiness for further adjustments if inflation pressures continue.
The company, known for products like Jim Jam and NutriChoice biscuits, reported a modest 5 percent growth in its consolidated net profit, amounting to Rs 582 crore for the October-December quarter of the current fiscal year.
