HUL announces top management change, Paranjpe to take up global role
New Delhi: Hindustan Unilever Ltd on Friday said its Managing Director and Chief Executive Officer, Nitin Paranjpe, will take up a global role at parent Unilever and become the President, Home Care, of the FMCG giant.
Subsequently, Sanjiv Mehta, currently Chairman, North Africa & Middle East (NAME), Unilever, has been appointed as the Managing Director and Chief Executive Officer of the company in place of Paranjpe with effect from October 1, 2013, Hindustan Unilever Ltd (HUL) said in a statement.
"Nitin Paranjpe, currently the Managing Director and Chief Executive Officer of HUL will be joining the Unilever Leadership Executive (ULE), taking on the role of President, Home Care," it added.
The appointment of Mehta has been approved by HUL board and will be subject to approval of the company's shareholders, the company said.
"He (Mehta) will also be responsible for South Asia cluster which includes India, Pakistan, Sri Lanka, Bangladesh and Nepal," it added.
Commenting on the development, HUL Chairman Harish Manwani said the changes reflect the company's strong commitment towards leadership development and its tradition of leveraging experiences and synergies of talent across markets.
"I wish to take the opportunity to express my deep appreciation for the significant contribution that Nitin made to the business in India and his leadership in driving the growth agenda," Manwani said.
Paranjpe will be following the footsteps of his predecessors, including Manwani and Vindi Banga, who have moved from executive positions in HUL to play a bigger role in Unilever's global positions.
HUL, which employs over 16,000 people in India, markets various brands including Lux, Lifebuoy, Surf Excel and Pepsodent.