Charting new course

HARGAVE HAS ALOT ON HIS PLATE AS BRITANNIA ENTERS ANEW PHASE OF GROWTH...

- VIVEAT SUSAN PINTO

THE MIDWEEK news of the exit of Rakshit Hargave from Birla Opus to Britannia Industries as its ED & chief executive officer (CEO) created a bit of a stir in the fast-moving consumer goods (FMCG) industry.

With over three decades of experience behind him in companies such as Beiersdorf, the owner of the Nivea brand, Hindustan Unilever(HUL), Domino’s and Nestle India, Hargave has the track record to back him as he moves to Britannia on December 15.

While the stock of Grasim Industries — which houses the Birla Opus business — took a bit of a knock on Thursday, the Britannia stock was a gainer, rising by 5.2% intra-day. In the last two days, investors have displayed some more appreciation of Hargave’s appointment. Britannia’s shares have climbed 4.5%, while Grasim’s stock has fallen 5.5%, data from BSE shows.