 "Vinita Bali, first woman to head a consumer goods major, to exit Britannia")
After serving for eight years as the managing director of Britannia Industries, Vinita Bali is reportedly set to leave the company, paving way for Varun Berry, current chief operating officer.
According to an Economic Times report, Bali will resign in March, two years before her contract expires. Bali, 58, was the first woman to head a major consumer goods company in India. She joined the company in 2005, when there was no designated MD or chief executive officer (CEO), two years after Sunil Alagh left as MD and CEO after a dispute with the Wadias, Britannia’s promoters.
[caption id=“attachment_1328523” align=“alignright” width=“380”]  Reuters[/caption]
Under her watch, profits grew nearly 3 times over the past nine years. In fact, the company’s shares also gained 406 percent, at a time when the Sensex gained only 224 percent.
As a Mint report notes, Bali accelerated the company’s sales growth, strengthened Britannia’s brand image, and launched fast-growing health food products.
However, industry experts have a different view of Bali’s stint as the Britannia chief. Some experts believe that the company did not focus sufficiently on product innovation and brand initiatives during her tenure.
“During Bali’s tenure, the focus largely was on cost-cutting, profitability and consolidation. There weren’t too many product innovations or initiatives to build the Britannia brand,” said B Rao, a senior marketing executive at Parle, told TheEconomic Times.
Impact Shorts
More ShortsThe company is expected to announce the organisational changes and a new management structure by the month-end. As the company prepares to script a new growth strategy focusing on high-margin products and innovations amid stiff competition from ITC, Parle and Danone, all eyes are on the new chief Berry.
Berry has already proved his mettle earlier at PepsiCo.Will he able to reinvent the Britannia brand?
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