Biscuit major Britannia Industries Limited (BIL) on Wednesday scotched rumours on the resignation of its managing director Varun Berry.
In a regulatory filing, the company said that it was making an official statement on speculations of Mr. Berry’s resignation. “There have been false speculations over the last few days on Varun Berry’s resignation from the company.
“We would like to clarify that these rumours are incorrect and baseless,” the filing said even as the BIL shares lost some value during the day
Mr. Berry had been reappointed as the managing director of Britannia Industries Ltd. for a period of five years effective April 1, 2019, following his successful six-year stint since 2013, the company said, adding that during his tenure, BIL had seen strong results and the endeavour is to become a global total foods company.
