Shares of Britannia Industries Ltd . fell over 5% on Tuesday, November 11, after a churn seen at its top management on Monday evening after market closing hours.

The company's MD & CEO Varun Berry announced that he will be stepping down from his position before his term ends in 2029. The board of the company has also accepted his resignation with immediate effect, without Berry serving his notice period.

Britannia has been in focus recently since the announcement that Rakshit Hargave will be the new CEO from December 15. Hargave quit Grasim's Birla Opus over the weekend. He will also take charge as Managing Director from December 15.

N Venkataraman, currently the CFO at Britannia, will be interim CEO, till Hargave takes charge next month.

Under Varun Berry, Britannia's revenue grew b

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