HUL rejig: Nitin Paranjpe made Non-Exec Chairman, Sanjiv Mehta continues as CEO & MD

In consonance with emerging, progressive governance trends, Hindustan Unilever Ltd (HUL) has announced the separation of the position of the Chairman of the Board and CEO & Managing Director.

The company has 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 and Managing Director.

The Nomination & Remuneration Committee (NRC) of the HUL Board recommended Paranjpe’s 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 he shareholders, which the company will seek as per applicable regulations.

As recently announced by Unilever in January 2022, 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.

Commenting on Paranjpe’s appointment, Sanjiv Mehta, Chairman & MD, 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.”

Commenting on his appointment as the Non-Executive Chairman, Nitin Paranjpe said, “It’s 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 years ahead.”