Berry, who joined Britannia in 2013 and became MD in 2014, had steered the company through a period of transformation—sharpening its distribution, expanding into adjacent categories like dairy and snacks, and delivering consistent margin improvement. The board accepted his resignation effective immediately and waived his notice period, amplifying investor concerns.
In his place, Britannia has appointed Rakshit Hargave as new Managing Director & CEO, with effect from December 15, 2025. In the interim, CFO N. Venkataraman will take on additional charge as CEO.
Analysts pointed to the timing of Berry’s exit without hand-over period and the gap before the new CEO formally takes charge as the key reasons behind the sharp market reaction. For instance, one note observed “The lack of overlap between the outgoing and incoming leadership could weigh on sentiment.”
While Britannia’s growth story under Berry was impressive—the company’s revenue, profit margins and market reach all saw strong improvement—it now faces a pivotal leadership transition at a time of competitive pressures and margin headwinds in the FMCG sector.
For investors, the question now is whether the new leadership can maintain the momentum and reassure the market that strategic execution and operational excellence will continue seamlessly. In the short term, however, sentiment remains cautious as the stock weathers the fallout from the surprise exit.
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