HUL splits position of Chairman and CEO MD appoints Paranjpe as Non-Executive Chairman
New Delhi Feb 24 PTI Leading FMCG firm Hindustan Unilever Ltd HUL on Thursday announced the separation of the position of Chairman of the Board and the CEO Managing Director and has appointed Nitin Paranjpe as a Non-Executive Chairman of the company Paranjpe currently working as the Chief Operating Officer of Anglo-Dutch FMCG major Unilever the parent of HUL would take over as the Non-Executive Chairman from March 31 2022 Sanjiv Mehta will continue as the Chief Executive Officer Managing Director CEO MD of the company HUL said in a statement This is in consonance with emerging progressive governance trends according to HUL which owns popular brands including RIN Surf Excel Lux Lakm and Dove The appointment is subject to the approval of the shareholders which the company will seek as per applicable regulations HUL said The Nomination Remuneration Committee NRC of the HUL Board had recommended Paranjpes appointment to the Board The Board accepted the recommendation made by the NRC and has appointed Paranjpe as a Non-Executive Chairman it added In January this year Unilever had announced that Paranjpe will take on a new role as Chief Transformation Officer Chief People Officer leading the business transformation and heading the HR function for Unilever effective April 2022 He is also a member of the Supervisory Board of Heineken NV I look forward to working closely with Sanjiv and the Board to further strengthen the company and help navigate the challenges and opportunities in the years ahead Paranjpe said HUL Chairman Managing Director Sanjiv Mehta said we welcome Nitin back to HUL as the Non-Executive Chairman He brings in huge knowledge and experience which will enrich the deliberations and add value to the Board Mehta who is with HUL for nearly 30 years became the CEO MD of HUL in October 2013 and in June 2018 was appointed as the Chairman Managing Director Mehta also President of the Federation of Indian Chambers of Commerce Industry FICCI thanked HULs Board for their support rendered to him during his tenure HULs Board also approved the re-appointment of Dev Bajpai as the Whole Time Director of the company for a period of five years till January 2027 Bajpai is Executive Director – Legal and Corporate Affairs of HUL In FY21 HULs revenue was at Rs 45996 crore and is the countrys largest fast-moving consumer goods company With over 50 brands spanning various categories HUL is into fabric solutions home and hygiene life essentials skin cleansing skin care hair care colour cosmetics oral care deodorants tea coffee ice cream frozen desserts foods and health food drinks Its portfolio consists of leading household brands They include Lux Lifebuoy Surf Excel Rin Wheel Glow Lovely Ponds Vaseline Lakm Dove Clinic Plus Sunsilk Pepsodent Closeup Brooke Bond Bru Knorr Kissan Kwality Walls Horlicks and Pureit PTI KRH RAM
New Delhi Feb 24 PTI Leading FMCG firm Hindustan Unilever Ltd HUL on Thursday announced the separation of the position of Chairman of the Board and the CEO Managing Director and has appointed Nitin Paranjpe as a Non-Executive Chairman of the company Paranjpe currently working as the Chief Operating Officer of Anglo-Dutch FMCG major Unilever the parent of HUL would take over as the Non-Executive Chairman from March 31 2022 Sanjiv Mehta will continue as the Chief Executive Officer Managing Director CEO MD of the company HUL said in a statement This is in consonance with emerging progressive governance trends according to HUL which owns popular brands including RIN Surf Excel Lux Lakm and Dove The appointment is subject to the approval of the shareholders which the company will seek as per applicable regulations HUL said The Nomination Remuneration Committee NRC of the HUL Board had recommended Paranjpes appointment to the Board The Board accepted the recommendation made by the NRC and has appointed Paranjpe as a Non-Executive Chairman it added In January this year Unilever had announced that Paranjpe will take on a new role as Chief Transformation Officer Chief People Officer leading the business transformation and heading the HR function for Unilever effective April 2022 He is also a member of the Supervisory Board of Heineken NV I look forward to working closely with Sanjiv and the Board to further strengthen the company and help navigate the challenges and opportunities in the years ahead Paranjpe said HUL Chairman Managing Director Sanjiv Mehta said we welcome Nitin back to HUL as the Non-Executive Chairman He brings in huge knowledge and experience which will enrich the deliberations and add value to the Board Mehta who is with HUL for nearly 30 years became the CEO MD of HUL in October 2013 and in June 2018 was appointed as the Chairman Managing Director Mehta also President of the Federation of Indian Chambers of Commerce Industry FICCI thanked HULs Board for their support rendered to him during his tenure HULs Board also approved the re-appointment of Dev Bajpai as the Whole Time Director of the company for a period of five years till January 2027 Bajpai is Executive Director – Legal and Corporate Affairs of HUL In FY21 HULs revenue was at Rs 45996 crore and is the countrys largest fast-moving consumer goods company With over 50 brands spanning various categories HUL is into fabric solutions home and hygiene life essentials skin cleansing skin care hair care colour cosmetics oral care deodorants tea coffee ice cream frozen desserts foods and health food drinks Its portfolio consists of leading household brands They include Lux Lifebuoy Surf Excel Rin Wheel Glow Lovely Ponds Vaseline Lakm Dove Clinic Plus Sunsilk Pepsodent Closeup Brooke Bond Bru Knorr Kissan Kwality Walls Horlicks and Pureit PTI KRH RAM
