Berry would be replacing Vinita Bali, who retires as MD of the company with effect from March 31, 2014, Britannia Industries said in a filing to the BSE.
In a top level management change, FMCG firm Britannia Industries today appointed Varun Berry as the Manging Director (MD) of the company with effect from April 1.
Berry would be replacing Vinita Bali, who retires as MD of the company with effect from March 31, 2014, Britannia Industries said in a filing to the BSE.
"Bali will be retiring as scheduled as MD of the company with effect from the close of business on March 31, 2014 when she will also cease to be a director of the company," it added.
Further, the board of directors, which met today, has appointed Varun Berry as MD of the company with effect from April 1, 2014, the company said.
Bali would continue to serve on the boards of other Wadia group companies like Bombay Dyeing, Bombay Burmah Trading Corporation and Go Airlines, the company said.
She will also continue to be associated with the Britannia Nutrition Foundation, it added.
Bali had joined the company in 2005, while Berry had joined Britannia in January 2013 from PepsiCo as Chief Operating Officer and was made Executive Director in November 2013.
Britannia stock price
On March 25, 2014, Britannia Industries closed at Rs 841.20, down Rs 3.95, or 0.47 percent. The 52-week high of the share was Rs 972.50 and the 52-week low was Rs 505.00.
The company's trailing 12-month (TTM) EPS was at Rs 30.53 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 27.55. The latest book value of the company is Rs 53.07 per share. At current value, the price-to-book value of the company is 15.85.
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