Hindustan Unilever Limited announced the separation of the position of Chairman of the Board and the CEO and 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.
Mr Sanjiv Mehta will continue as the Chief Executive Officer and Managing Director, (CEO & MD), a statement said.
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, the statement said.
Commenting on the appointment of Paranjpe, Sanjiv Mehta, the Chairman & Managing Director of HUL, said, “We welcome Nitin back to HUL as a Non-Executive Chairman. He brings in huge knowledge and experience which will enrich the deliberations and add value to the Board.”
Dr Sanjiv Misra, Chairman of the NRC said that the company had been privileged to have Mr. Sanjiv Mehta as the Chairman of the Board and thanked Mr Mehta for providing effective leadership to the Board for the last few years. He said, “Sanjiv has played a stellar role in not only leading the business to high performance in the challenging environment but has also led the Board, most ably, setting high governance of standards and transparency in Board management. On behalf of the Board, I would like to thank Sanjiv for his contributions as the Chairman and look forward to continuing to work with him in his capacity as the CEO & Managing Director. We would also like to welcome Nitin as the Non-Executive Chairman of the Board.”
Nitin Paranjpe said, “It is an honour and a privilege to be appointed as the Non-Executive Chairman of HUL, one of the most respected companies in the country. I look forward to working closely with Sanjiv and the Board to further strengthen the company and help navigate the challenges and opportunities in the year ahead.”
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