Britannia Industries’ newly appointed Managing Director and Chief Executive Officer, Rakshit Hargave, has outlined a shift towards a non-hierarchical and open work culture as he formally took charge of the FMCG major.
Addressing employees at a town hall on his first day, Hargave said Britannia’s “way of working and culture will be without hierarchy,” emphasizing approachability and openness across levels, according to people familiar with the development. He also said he plans to travel extensively across markets and manufacturing plants to stay closely connected with teams on the ground.
Hargave succeeds Varun Berry, who stepped down last month after nearly 13 years as managing director, vice-chairman and CEO. Under Berry’s leadership, the Nusli Wadia-backed company underwent a significant transformation, expanding into premium offerings and new categories such as cheese and dairy.
As part of the leadership changes, Britannia has appointed Subhashis Basu as Chief Business Officer – Dairy, the company said in an exchange filing. Basu will lead the company’s joint venture with France’s Bel SA, formed in late 2022 to develop, manufacture and market cheese in India. He previously served as CEO of Anik Milk Products and chief commercial director at Lactalis India.
Basu replaces Abhishek Sinha, who has been appointed Chief Sales Transformation Officer with effect from December 15.
“Look forward to work together as we build a total foods global company,” Hargave said in a LinkedIn post announcing his new role.
Berry, who joined Britannia in 2013 after stints at PepsiCo and Hindustan Unilever, was credited with steering one of India’s most notable FMCG turnarounds. According to brokerage Motilal Oswal, the company’s profit margins nearly tripled during his tenure, with operating margins rising from 7% in FY13 to 18% in FY25.
Hargave joins Britannia from Birla Opus, the decorative paints business of Grasim Industries under the Aditya Birla Group, where he played a key role in scaling the business. He has previously held leadership positions at Beiersdorf (Nivea), Unilever and Nestlé.
The leadership transition comes at a time when legacy FMCG companies are facing intensifying competition from regional and digital-first brands. For the July–September quarter, Britannia reported a 23% year-on-year increase in consolidated net profit to ₹655 crore, while revenue from operations rose 4.1% to ₹4,840 crore.
The company’s board has identified innovation, diversification, global expansion, cost efficiencies and tackling regional competition as key levers for Britannia’s next phase of growth.