Hindustan Unilever (HUL) has separated the positions of chairman of the board and the chief executive officer & managing director (CEO & MD), which will be effective March 31.
The FMCG major has announced the appointment of Nitin Paranjpe, currently chief operating officer of Unilever, as the non-executive chairman of the company. Sanjiv Mehta will continue as CEO & MD.
“The nomination & remuneration committee (NRC) of the HUL board recommended his (Paranjpe) 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 the approval of the shareholders, which the company will seek as per applicable regulations,” HUL said in its release.