 "HUL splits position of chairman, CEO & MD; Paranjpe made non-exec chairman")
FMCG major Hindustan Unilever on Thursday announced the separation of the position of Chairman of the Board and the CEO & Managing Director.
The company announced the appointment of Nitin Paranjpe, currently Chief Operating Officer of Unilever, as a non-executive chairman of the company with effect from March 31, 2022.
Sanjiv Mehta will continue as the Chief Executive Officer & Managing Director (CEO &MD).
"The Nomination & Remuneration Committee (NRC) of the HUL Board recommended his appointment to the Board. The Board accepted the recommendation made by the NRC and has appointed Paranjpe as a Non-Executive Chairman. The appointment is subject to approval of the shareholders which the Company will seek as per applicable regulations," said the company in a press release.
"As recently announced by Unilever in January, 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," added HUL.
Commenting on the appointment of Paranjpe, Sanjiv Mehta, the Chairman & Managing Director, HUL 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."
The company announced the appointment of Nitin Paranjpe, currently Chief Operating Officer of Unilever, as a non-executive chairman of the company with effect from March 31, 2022.
Sanjiv Mehta will continue as the Chief Executive Officer & Managing Director (CEO &MD).
"The Nomination & Remuneration Committee (NRC) of the HUL Board recommended his appointment to the Board. The Board accepted the recommendation made by the NRC and has appointed Paranjpe as a Non-Executive Chairman. The appointment is subject to approval of the shareholders which the Company will seek as per applicable regulations," said the company in a press release.
"As recently announced by Unilever in January, 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," added HUL.
Commenting on the appointment of Paranjpe, Sanjiv Mehta, the Chairman & Managing Director, HUL 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."
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%