Britannia’s Rajneet Kohli set to join HUL

New Delhi: Rajneet Kohli, former chief executive and executive director of Britannia Industries Ltd, is set to join Hindustan Unilever Ltd (HUL) to lead its foods and refreshment division, according to people in know of the development.

Kohli had announced his resignation from the biscuit maker on 6 March and stepped down from his active role in its operations effective 14 March to pursue an “external opportunity”.

Foods and refreshment is currently HUL’s second-largest division after home care, following a recent split in the company’s beauty and personal care division into beauty and wellbeing and personal care businesses.

In fiscal 2023-24, the foods and refreshment business reported a revenue of Rs15,292 crore, contributing 25% of HUL’s turnover, up from 17% a decade earlier, according to a November presentation by the company.

The Kwality Wall’s ice cream unit, which was a part of HUL’s business in fiscal year 2024, has since been spun off and is set to list as Kwality Wall’s (India) Ltd. HUL’s home care division reported revenue of ₹21,900 crore for FY24.

Britannia Industries had appointed Kohli as its executive director and CEO in September 2022, reporting to Varun Berry, its vice chairman and managing director.

Britannia’s revenue from operations stood at Rs16,186.08 crore in fiscal 2023-24.

A management veteran

Kohli has served in numerous senior leadership roles over a career spanning 25 years, working with Asian Paints and Coca-Cola. He joined Britannia Industries from Jubilant FoodWorks Ltd, which operates pizza chain Domino’s in India, where he was president and chief business officer.

HUL had named Shiva Krishnamurthy as executive director of its foods and refreshment division in February last year. Mint could not verify Krishnamurthy’s next move.

Texts messages and calls to Kohli remained unanswered. HUL did not respond to Mint’s queries.

HUL sells food brands such as Kissan ketchup, Bru coffee, Knorr noodles, Brooke Bond tea, Horlicks malt drinks, Lipton tea, and Hellmann’s mayonnaise. Its home care division includes laundry and home cleaning brands such as Surf Excel and Wheel.

In fiscal 2023-24, HUL generated a turnover of Rs59,579 crore, with its brands reaching more than 9 million outlets in India.

HUL has seen a series of appointments since 2023. It named Rohit Jawa as its managing director and CEO effective 27 June 2023. That year, it also named Harman Dhillon as executive director of its beauty and wellbeing division. In June 2024, Arun Neelakantan was appointed as executive director, customer development.