MUMBAI: The Rs 25,000 crore FMCG major Hindustan Unilever has elevated its managing director and CEO Nitin Paranjpe as the global head of parent company Unilever‘s home care business.
HUL MD and CEO Nitin Paranjpe
From 1 October, company‘s current Middle-East and North Africa operation head Sanjiv Mehta will replace Paranjpe as HUL MD. Mehta will also be responsible for south Asia cluster which includes India, Pakistan, Sri Lanka, Bangladesh and Nepal. However, the appointment of Mehta will be subject to approval of shareholders.
Paranjpe will join the leadership executive team and will report directly to global CEO Paul Polman.
Announcing the management changes, HUL chairman Harish Manwani said "The changes reflect our strong commitment towards leadership development and our tradition of leveraging experiences and synergies of talent across markets."
HUL chairman Harish Manwani
Welcoming Mehta as the new CEO, Manwani added, "Sanjiv brings with him rich experience of successfully leading businesses across developing and emerging markets. I am confident that he will further build on the growth momentum and drive the company‘s agenda of competitive, consistent, profitable and responsible growth."
HUL, which employs over 16,000 people in India, markets various brands including Lux, Lifebuoy, Surf Excel and Pepsodent. They contribute six-seven per cent to Unilever‘s turnover which recently pumped Rs 19,180 crore through an open offer to increase its stake to 67 per cent in the company.