HUL to split top role; Sanjiv Mehta to retain MD post: Report
Hindustan Unilever will be bifurcating the role of current chairman and MD Sanjiv Mehta to meet requirements of SEBI, says media report
Hindustan Unilever will be bifurcating the role of the current chairman and MD Sanjiv Mehta, according to recent media reports. While a top Unilever executive will serve as the non-executive chairman, Mehta will continue as the MD at HUL. The move is in keeping with the requirements of Securities and Exchange Board of India (SEBI) that has recommended splitting the two roles for improving corporate governance in companies.
Media reports suggest that former HUL CEO and current Unilever COO and CEO Nitin Paranjape may be the likely candidate for Non-Executive Chairman. Prior to Paranjape, Harish Manwani held the role of the non-executive chairman until his retirement in 2018.
Around the time Paranjape was elected as the global COO and CEO in March, Mehta was appointed as the President of South Asia and a member of the Unilever Leadership Executive after the reshuffling in leadership in the conglomerate.
Mehta had been serving as chairman and MD of HUL since 30th June 2018. He has been associated with Unilever for 26 years and has been leading businesses globally for the last 17 years. Recently, he was also appointed as the chairman of FICCI.
Nitin joined Unilever in 1987, holding various roles in marketing and sales. At Unilever, he has been responsible for delivering year results (P&L) for the conglomerate.
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