ET Bureau, Mumbai, Vinita Bali, Managing Director, Britannia Industries has resigned from her post. She worked for 9 years in this biscuit company controlled by Wadia. Varun Berry, the current Chief Operating Officer of Britannia, will be the new Managing Director of the company. Bali was the first female boss of a major consumer goods company in India. She first took charge of the company in 2005 as the CEO and later became the MD.
However, 58-year-old Bali will continue to be on the board of other Wadia Group firms such as Bombay Dyeing, Bombay Burmah Trading Corporation and Go Airlines after her resignation. Bali said, “I chose retirement because I am very clear that I want to do something different in the next 20 years. I am moving from one full-time role to many full-time roles. A company statement said that Bali will retire at the end of this fiscal year to take up a variety of roles in the corporate and development sectors.
The Economic Times was the first to report on the development in January. The development comes at a time when the company is formulating a new growth strategy through a focus on high-margin products and innovation in the face of stiff competition from players like ITC, Parle, and Denon. The biscuit company began its succession planning in 2013 when Berry was put in charge of domestic operations. Earlier, Bali was also the head of this operation. Bali was made head of Britannia’s international operations, the Britannia Nutrition Foundation. She was entrusted with the responsibility of developing new businesses. However, she retained the position of Managing Director and was responsible for the revenue and profits of the company.
The company’s revenue grew more than fourfold during Bali’s tenure as CEO and MD. While the company’s revenue was Rs 1,510 crore in 2005, it increased to Rs 6,185 crore in 2013. However, in these 8 years, the company’s net profit increased relatively less and it increased from Rs 149 crore to Rs 259 crore. In fact, the company not only had to deal with the challenge of high costs but also competition from old rivals like Parle and ITC in the core biscuit business, as well as new entrants like Cadbury Craft’s Oreo and United Biscuit. Biscuits still account for more than three-fourths of the company’s total sales. However, for higher margins, the company is also aggressively foraying into milk, cheese, and ready-to-eat food categories.
Vinita Bali biography
On November 11, 1955, Vinita Bali was born in Bangalore, Karnataka, India. She’s currently 66 years old. Vinita received the 2009 Economic Times Awards’ “Business Woman of the Year” honor. In order to combat child malnutrition, Bali established the Britannia Nutrition Foundation in 2009. This organization provides safe biscuits to Indian schools.
In addition, she was honored for her work with the foundation with a “Corporate Social Responsibility Award.” Vinita appeared on Forbes’ list of “Asia’s 50 Power Businesswomen” in 2011.
|Full Name||Vinita Bali|
|Birth Date||11 November 1955|
|Birth Place||Bangalore, Karnataka, India|
|Age||66 years old|
|Home town||Bangalore, Karnataka, India|
|Famous For||Managing Administrator of Britannia Industries Limited|
Education of Vinita Bali
In 1975, Vinita graduated with a bachelor’s degree in economics. At the University of Delhi’s Lady Shri Ram College for Women, she earned her bachelor’s degree. After that, she graduated from Jamnalal Bajaj Institute of Management Studies with an MBA (Master of Business Administration).
Vinita was also awarded a scholarship to attend Michigan State University in the USA, where she worked as an intern at the UN’s headquarters.
Balinese Family Vinita (Parents, Siblings)
Vinita has two siblings, but their names are unknown. Her parents’ names are Chamanlal Bali and Vyjayanthimala Bali
Vinita Bali Career
Vinita Bali represents the Company as an Independent Director. She joined our Board of Directors in 2018. From 2005 to 2014, she was the CEO of Britannia Industries, an Indian food firm that was publicly traded. She previously held the position of Head of the Business Strategy practice in the United States at the consulting company Zyman Group. She began working for Cadbury in the UK, Nigeria, and South Africa from 1980 until 1994 after beginning her career in India in 1977 at a Tata Group company. She worked for The Coca-Cola Company in the United States and Latin America from 1994 to 2003, holding executive positions in marketing and general management. In 2001, she was named global head of corporate strategy.
Ms. Bali serves as a non-executive director on the boards of various Indian businesses, including CRISIL Ltd. and Syngene International Limited, Smith & Nephew plc, and Cognizant Technology Solutions. She served as a non-executive director for Syngenta International AG in the past. From 2015 to 2018, she served as the board chair for the Global Alliance for Improved Nutrition (GAIN).
What is the net worth of Vinita Bali?
As of August 19th, 2020, Vinita Bali’s estimated net worth is at least $948,242.88. As of January 10th, Ms. Bali owned 9,672 shares of Bunge stock, valued at around $948,243. This estimate of Ms. Bali’s net worth does not take into account any further investments she might own.
Vinita Bali’s spouse
Since Vinita kept her personal life so private, she is currently single, not married, and her partner is unknown.