Hindustan Lever Limited’s Board of Directors has approved the change in name of the company to Hindustan Unilever Limited. This approval, however, is subject to that of the company’s shareholders approval. The proposal will be taken up at the next Annual General Meeting.
The company believes that changing the name provides the optimum balance between maintaining the heritage of the company, and the future benefits and synergies of global alignment. The reason for retaining the word ‘Hindustan’ is being done in order to reflect the company’s continued commitment to local economy, consumers, customers and employees.
Harish Manwani, Chairman, Hindustan Lever Limited and President, Unilever Asia Amet, said, “The name change is a significant milestone. It retains the company’s continued commitment towards its local roots while leveraging the global scale and reputation of Unilever with its consumers and other stakeholders in India.”
The alignment of the corporate name is seen as a source strength and synergy to harness Unilever’s global scale and size for the benefit of Indian business in both domestic and export markets. The company is also attempting to attract and retain local and international talent through this.
The company has adopted and subscribed to a vision statement: ‘To earn the love and respect of India, by making a real difference to every Indian’.