Britannia Industries has announced in a press release on Monday that it has appointed Varun Berry as the company's new chief operating officer.

As the new COO, Berry will be the second most senior official in the company and will work with MD and CEO Vinita Bali. The company also said that Neeraj Chandra, who is now working as the president and COO at Britannia, will now work as the head strategy and new business development at the biscuit maker. Vinod Menon, who has been working as the head of strategy and new business development, will now work as the new VP and CFO of the company.

Varun Berry has been working as the CEO of PepsiCo Foods. He has worked with the US based beverage giant for 18 years during which he held senior positions in India, Asia and the Middle East across foods and beverages segments. After leaving the company, he began his own health venture in association with telecom services provider Vodafone's former chief commercial officer Sanjoy Mukherjee in 2012.

Berry is taking charge of the company at a time when it is facing slower growth, high food inflation and an increasing number of rivals.