Rakshit Hargave Joins Britannia Industries as New CEO

Rakshit Hargave has been appointed as the new Chief Executive Officer and Executive Director of Britannia Industries, a leading producer of baked goods and dairy products. His new role will commence on December 15, 2025, following his recent resignation from Birla Opus, where he served as Chief Executive Officer until November 1, 2025.

Hargave’s appointment was confirmed on November 5, 2025, during a board meeting of Britannia Industries. The board approved his designation as Additional Whole-Time Director alongside his responsibilities as CEO for a five-year term, pending approval from the company’s shareholders. He will be reporting directly to Varun Berry, who is the Managing Director and Chairman of Britannia.

Hargave is set to succeed Rajneet Singh Kohli, the former CEO of Britannia, who departed from the company in March 2025. Following Kohli’s exit, Varun Berry had temporarily taken on the CEO role in addition to his existing responsibilities, which include overseeing the production of popular brands such as Nutrichoice and Good Day biscuits, as well as Winkin Cow cheese.

In his resignation letter from Birla Opus, Hargave expressed his desire to pursue new career opportunities outside the company. He joined Birla Opus, owned by Grasim Industries, in November 2021, and his departure is part of a continuing trend in the fast-moving consumer goods (FMCG) sector, which has faced challenges in volume growth amid economic fluctuations.

The FMCG industry in India has been grappling with various issues, including disruptions linked to the Goods and Services Tax (GST). Recent reports indicate that companies like Hindustan Unilever Limited (HUL) and Dabur India have experienced slow volume growth. HUL reported flat underlying volume growth, while Dabur noted a modest increase of 2%. In contrast, Nestlé has recorded significant growth, driven by increased demand for its products.

Notably, the Indian government has recently reduced GST rates on several consumer goods, including biscuits, chocolates, and dairy products, aiming to stimulate growth in the sector. The tax on various food items has been reduced to 5% from 18%, with similar reductions for other everyday products.

As Britannia Industries prepares for Hargave's leadership, the company is expected to focus on leveraging these tax changes to enhance its market position and drive growth in the competitive FMCG landscape. The company's financial results are anticipated to be announced shortly, providing further insight into its performance during this transitional period.