In a significant leadership development within India’s fast-moving consumer goods (FMCG) sector, Britannia Industries Limited has officially appointed Rakshit Hargave as the Chief Executive Officer (CEO) and Managing Director of the company.

The appointment was approved by the shareholders of Britannia Industries through a postal ballot conducted via remote e-voting, marking a key milestone in the company’s governance process. The results of the postal ballot were formally declared on 15 March 2026 at 11:23 PM (IST).

The announcement was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which requires listed companies to disclose significant corporate developments to stock exchanges.

The appointment reinforces Britannia’s leadership structure as the company continues to strengthen its position in India’s highly competitive FMCG industry.

Shareholder Approval Through Postal Ballot

The appointment of Rakshit Hargave was approved through an Ordinary Resolution passed by the company’s members via postal ballot.

The process allowed shareholders to vote electronically using a remote e-voting system, ensuring wider participation and transparency in the decision-making process.

The resolution approving the appointment was originally included in the Notice of Postal Ballot dated 10 February 2026.

The Board of Directors had previously approved the appointment during its meeting held on 10 November 2025, based on the recommendation of the company’s Nomination and Remuneration Committee.

However, under corporate governance requirements, the final approval from shareholders was required before the appointment could take effect.

With the successful completion of the postal ballot process, the appointment has now been formally confirmed.

Five-Year Leadership Term

According to the company’s disclosure, Rakshit Hargave will serve as Chief Executive Officer and Managing Director for a period of five years.

The tenure will run from:

• 15 December 2025

• 14 December 2030

Both dates are inclusive, meaning he will lead the company throughout this five-year period.

Importantly, the company has clarified that the position is “not liable to retire by rotation.”

This means the appointment does not fall under the typical director retirement cycle where board members must periodically retire and seek reappointment by shareholders.

Such provisions are commonly used for executive leadership roles in large corporations to ensure continuity in management and long-term strategic planning.

Corporate Disclosure to Stock Exchanges

As a listed company, Britannia Industries Limited informed both major Indian stock exchanges about the development.

The announcement was submitted to:

• BSE Limited

• National Stock Exchange of India

These disclosures were made in compliance with regulatory requirements to ensure that investors and market participants receive timely information about significant corporate changes.

The communication included detailed annexures outlining the appointment and professional background of the new CEO and Managing Director.

Rakshit Hargave’s Professional Background

Rakshit Hargave is widely regarded as a veteran in the consumer goods industry, with extensive experience across multiple global markets.

Over the course of his career, he has worked in leadership roles in several major multinational companies and consumer brands.

His professional journey spans India as well as international markets, including Africa, Southeast Asia and Australia–New Zealand.

This global exposure is expected to contribute significantly to Britannia’s future strategic initiatives.

Leadership at Birla Opus

Before joining Britannia, Rakshit Hargave served as the Chief Executive Officer of Birla Opus, a major paint venture launched by the Aditya Birla Group.

Birla Opus represents one of the group’s most ambitious entries into the paints and coatings market, which is dominated by established players in India.

His leadership in building and managing this venture demonstrated his ability to lead large-scale consumer businesses.

Experience with Global Consumer Brands

During his career, Rakshit Hargave also held key leadership roles at Beiersdorf, the parent company behind the globally recognised NIVEA.

At Beiersdorf, he headed operations across multiple international regions, including:

• India

• Africa

• ASEAN countries

• Australia and New Zealand

This experience provided him with significant expertise in managing large consumer brands across diverse markets.

Role at Hindustan Unilever

Earlier in his career, he worked with Hindustan Unilever Limited, one of India’s largest consumer goods companies.

He served as Chief Operating Officer at Lakme Lever, where he played an important role in expanding operations and strengthening brand presence in the beauty and personal care segment.

His experience with Hindustan Unilever provided him with deep insight into India’s FMCG industry and consumer behaviour.

Contribution at Jubilant FoodWorks

Another notable phase of his career was with Jubilant FoodWorks, the operator of Domino’s Pizza in India.

During his tenure there, he helped launch the now iconic “30-minute delivery guarantee” model for Domino’s Pizza in India.

This initiative significantly strengthened Domino’s market positioning and became one of the most recognised marketing strategies in the country’s quick-service restaurant industry.

Early Career at Nestlé India and Tata Motors

Rakshit Hargave also worked with Nestlé India, where he managed the popular Maggi product portfolio.

Managing such a widely consumed brand helped him gain valuable experience in brand strategy, product management and consumer marketing.

Earlier in his professional journey, he also had a stint with Tata Motors, following the completion of his engineering degree.

Educational Background

Academically, Rakshit Hargave has an impressive educational background.

He holds:

• An MBA from the Faculty of Management Studies (FMS), Delhi

• A degree in Electrical Engineering from IIT (BHU), Varanasi

The Indian Institute of Technology (BHU) Varanasi recognised his achievements by awarding him the Distinguished Young Alumni Award.

This recognition reflects his contributions to the business world and his professional accomplishments.

Compliance and Governance Declaration

In its disclosure, Britannia Industries Limited confirmed that Rakshit Hargave:

• Is not related to any of the directors of the company

• Is not debarred by SEBI or any other regulatory authority from holding the office of director

Such disclosures are mandatory under stock exchange regulations to ensure transparency and maintain investor confidence.

Importance for Britannia’s Future

The appointment of Rakshit Hargave comes at an important time for Britannia Industries Limited, which continues to expand its presence in India’s FMCG market.

Britannia is one of India’s leading food companies with a strong portfolio of products including:

• Biscuits

• Dairy products

• Cakes

• Snacks

Strong leadership is essential for maintaining competitiveness in a sector characterised by intense competition, evolving consumer preferences and rapid innovation.

With his extensive experience in global consumer brands and operations, Hargave is expected to play a key role in driving Britannia’s strategic growth, innovation and market expansion.

Conclusion

The appointment of Rakshit Hargave as Chief Executive Officer and Managing Director of Britannia Industries Limited marks a significant leadership transition for the company.

Approved by shareholders through a postal ballot and remote e-voting process, the five-year appointment reflects strong confidence in his leadership capabilities.

With extensive experience across leading multinational companies and consumer brands, Hargave is expected to guide Britannia through the next phase of growth while strengthening its position in India’s competitive FMCG sector.

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