HUL appoints Rohit Jawa as MD & CEO, to succeed Sanjiv Mehta

The FMCG major on Friday announced that its board has approved the appointment of Rohit Jawa as the managing director & chief executive officer (MD & CEO) of the company for a term of five consecutive years with effect from 27 June 2023.

Jawa, currently the chief of transformation at Unilever, will serve as whole-time director of the company from 1 April 2023 upto 26 June 2023.

The appointment will be subject to shareholders approval and other statutory approvals as may be applicable.

Hindustan Unilever (HUL) said that Jawa will also take over as President, Unilever South Asia. He will join the Unilever Leadership Executive (ULE) effective from 1 April 2023.

He started his career with HUL as a management trainee in 1988 and has a proven track record of sustained business results across - India, South East Asia, and North Asia. As employee value proposition (EVP) for North Asia & Chairman for Unilever China, he led a significant transformation of Unilever China into a competitive, profitable, and consistent business, now Unilever's 3rd biggest globally.

As the Chairman of Unilever Philippines, he led the business to become one of the top 10 markets for Unilever globally. Rohit's ability to integrate the strength of traditional markets with digital technologies and future-fit business models, positions him well to take HUL into its next growth phase, the company stated.

Rohit Jawa will succeed Sanjiv Mehta as the MD & CEO of the company. Mehta will retire from the company, after a 10-year tenure at the helm. Under his leadership, HUL crossed Rs 50,000 crore in turnover and the company's market capitalisation increased more than four times from $17 billion to $75 billion.

Meanwhile, the company's board has also appointed Ranjay Gulati as an independent director for a term of five consecutive years with effect from 1 April 2023. The appointment will be subject to approval of shareholders.

HUL is India's largest fast moving consumer goods company. The FMCG major reported 12% rise in standalone net profit to Rs 2,505 crore on a 16% increase in turnover to Rs 14,986 crore in Q3 FY23 over Q3 FY22.

Shares of Hindustan Unilever were up 0.01% to Rs 2,460 on the BSE.

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