Britannia Industries CEO Rajneet Singh Kohli resigns, shares close lower; check details

The FMGC giant informed the stock exchanges at 2:35 pm on Thursday that its ED & CEO Rajneet Singh Kohli has submitted his resignation from the post on March 5, 2025, to pursue an opportunity outside Britannia.

The company’s Board of Directors has accepted Kohli’s resignation from the post on March 6. Rajneet Singh Kohli will be relieved from the services as the ED and CEO of Britannia Industries with effect from the closure of business hours on March 14, 2025, the company informed the stock exchanges.

Shares of Britannia Industries gained nearly 2% earlier in the session to hit an intraday high of ₹4,799.9 apiece on the NSE. However, the stock also touched an intraday low of ₹4,654.65 apiece on the NSE. The FMCG stock closed lower at ₹4,690 apiece, down 0.68% on NSE.

Kohli was appointed as the Executive Director & CEO of Britannia Industries on September 26, 2022.

In the resignation letter directed to the Vice Chairman & Managing Director of Britannia Industries, Varun Berry, Rajneet Singh Kohli requested to waive off his notice period and relieve him from the position from March 14, 2025, to pursue an external opportunity.

The leading biscuit maker posted a 4.8% increase in its consolidated net profit to ₹582.3 crore for the quarter ended December 2024, led by volume gains and price hikes. The net profit in the same quarter last year stood at ₹555.66 crore.

Its revenue from operations rose 7.9% year-on-year (YoY) to ₹4,592.62 crore in the December quarter compared to ₹4,256.33 crore in the corresponding quarter of the preceding financial year.