MUMBAI: FMCG major Britannia Industries announced on Thursday that its Executive Director and Chief Executive Officer (CEO) Rajneet Singh Kohli has resigned from his position with effect from March 14, 2025.
Kohli said he was resigning from Britannia in pursuit of an opportunity outside of the company.
Britannia Industries shares fell by 0.58 per cent on Thursday and were trading at a price of Rs 4, 697 on the BSE.
The Britannia board acknowledged the resignation through a resolution passed on the same day that Kohli quit. He Kohli will be officially relieved of his duties at the close of business hours on March 14.
"The Board of Directors of the Company vide Circular Resolution passed today i.e., 6th March, 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 14th March, 2025, " the company said in a press statement.
Kohli joined as Britannia's CEO in September 2022 and previously held leadership roles at Domino's India, run by Jubilant Foodworks, Asian Paints and Coca-Cola Co. Britannia has not yet announced any plan for a successor.
This is the second top level resignation from Britannia within a month as the company had announced the resignation of Chief Marketing Officer Amit Doshi on February 4. Doshi has resigned after a three-year tenure, with his last working day on March 17, 2025.
Kohli had praised Doshi's contributions and leadership to the company at the time of the announcement. Doshi joined Britannia in 2022 and his responsibilities included increasing the topline revenue and drawing up a roadmap for new products.
In February, the Britannia announced that it was planning to go for a 4-4.5 per cent price hike to prop up its profit. However, the management said that it was prepared for further adjustments if inflation persists.
The company, which sells Jim Jam and NutriChoice biscuits, reported a tepid 5 per cent increase in its consolidated net profit at Rs 582 crore for the October-December quarter of the current financial year.