Rajneet Singh Kohli, the CEO of Britannia, Steps Down

Britannia Industries, a prominent biscuit manufacturer, announced on 6 March that Rajneet Singh Kohli, its executive director and chief executive officer, left on March 5 in order to explore an outside opportunity. The stock exchange statement states that March 14 is Kohli's last day with the company. In September 2022, he joined the company after Varun Berry was promoted to vice chairman.

Kohli’s Resignation Letter

Kohli stated in his letter of resignation that it has been an honour to work with Berry and be a part of Britannia leadership for more than two and a half years. He went on to say that he is humbled and thankful for the chance to manage the biggest and most adored famous Britannia brand, collaborate with a bright group of people, and help the business succeed. The brand has advanced significantly with the team's help, and he is happy with what the group has accomplished.

Britannia Not Going for a Capex Break

Berry informed investors that the company was thinking of taking a capital expenditure break following the results of the October–December quarter. The business has installed plants and plans to keep them as low as feasible for the upcoming fiscal year. Additionally, he stated that until there was an increase in demand, the company would not invest more than INR 150 crore to INR 200 crore in capacity growth. Since the brand now had three new plants with new lines, capacity, head space, and other features, Berry had informed investors that he didn't think it needed capital expenditures. In terms of capital expenditures, the business is doing well. The fast-moving consumer goods business has struggled with urban demand, but Britannia is now facing high commodity prices. Berry informed investors that it was raising pricing in order to lessen the impact of the high cost of raw materials. The big biscuit company raised the prices of all of its products by 2% in the third quarter, and it anticipates finishing the fiscal year with a 4–4.5% price hike.

Kohli Before Joining Britannia

Prior to joining Britannia, Kohli held key leadership positions at Jubilant Foodworks, where he was instrumental in the expansion of well-known fast-food restaurants like Dunkin', Popeyes, and Domino's. His long history in the retail and consumer products industries also includes positions at Asian Paints and Coca-Cola Co., where he made major contributions to market expansion and brand strategy. Although Britannia has not yet named Kohli's replacement, more announcements about leadership changes are anticipated in the upcoming weeks. The company is still navigating a dynamic and changing market situation, so Kohli's departure represents a substantial move.