New Delhi, Nov. 10 -- Britannia Industries Ltd on Monday announced a sudden departure of Varun Berry as executive vice-chairman, managing director and chief executive officer (CEO), bringing an end to his nearly 13-year tenure at the packaged foods major.

The company named Rakshit Hargave as its next managing director and CEO, effective 15 December 2025, for a period of five years. In the interim, N. Venkataraman, executive director and chief financial officer, will hold additional charge as CEO until Hargave takes over. On 5 November, the company had announced Hargave's appointment as CEO at the biscuit maker.

In a letter dated 6 November, Berry wrote to chairman Nusli Wadia, tendering his resignation and proposing to serve out his not...