Britannia Industries has formally declared Susheel Navanale as its newly appointed Chief Information Officer (CIO), effective as of April 3, 2024. This strategic decision is part of the company’s ongoing endeavor to bolster its digital and IT capabilities, with strong backing from the Nomination and Remuneration Committee for Navanale’s candidacy.
Navanale brings a wealth of educational qualifications, including a Master’s Degree in Industrial & Management Systems Engineering from Arizona State University and a Bachelor of Engineering from NITK, Surathkal, making him well-suited for the role. His career is distinguished by significant accomplishments in leading global, cross-functional teams in digital innovation and executing IT strategies.
Having held impactful positions at IFFCO Group, Tata Consumer Products, and Hindustan Unilever, Navanale has been instrumental in driving cost efficiencies, enhancing operational effectiveness, and fostering revenue growth for these organizations, thereby securing a competitive edge.
This appointment coincides with a challenging period for Britannia Industries, a prominent player in India’s FMCG sector renowned for its diverse product portfolio encompassing biscuits, bread, rusk, cakes, and dairy items. Despite a 2.2% increase in revenue from operations, totaling Rs 4,191.83 crore in the third quarter of the fiscal year 2024, the company experienced a significant decline of 40.11% in its consolidated net profit, amounting to Rs 556.39 crore. Subsequent to the announcement, Britannia’s shares saw a marginal decrease of 1.09%, trading at Rs 4,842 on the Bombay Stock Exchange (BSE).
