The race for leadership of Indian bakery giant Britannia Industries took another turn this week when Ninu Khanna was tipped for the top spot.

Khanna is currently managing director of Bombay Dyeing, controlled by Nusli Wadia, which also has a significant stake in Britannia. Market sources have tipped Khanna as a leading contender to succeed Sunil Alagh as managing director of Britannia when he leaves next February.

Alagh recently informed the board of Britannia of his intention not to renew his contract when it expires in February – there is even speculation that he could leave Britannia earlier than this time, reports the Hindu Business Line.

The appointment of Britannia’s next managing director will be a matter not only for the Wadia family, the empire behind Britannia, but also Danone, the French company which has joint control.