Hindustan Unilever Ltd (HUL) 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.
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.
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." Mehta thanked the Board for their unstinted support rendered to him during his tenure and added, "It has been an honour to have led the HUL Board over the past few years."
(With IANS inputs)
