The appointment is based on the recommendation of Nomination and Remuneration Committee.

Susheel Navanale has a Master’s Degree in Industrial & Management Systems Engineering from Arizona State University and B.E. from NITK, Surathkal. He has led global cross-functional teams to drive digital transformations through creation and execution of IT strategies.

Navanale has worked in Companies such as IFFCO Group, Tata Consumer Products, Hindustan Unilever wherein he achieved cost reduction, enhanced efficiencies and revenue growth leading to competitive edge.

Britannia Industries (BIL) is one of India's leading FMCG companies. The company's principal activity is the manufacture and sale of biscuits, bread, rusk, cakes and dairy products.

Britannia Industries reported 40.11% decline in consolidated net profit to Rs 556.39 crore despite of 2.2% rise in revenue from operations to Rs 4,191.83 crore in Q3 FY24 over Q3 FY23.

The scrip fell 1.09% to trade at Rs 4,842 on the BSE.