HUL splits CMD submit, Nitin Paranjpe is non-executive chairman

Hindustan Unilever (HUL) on Thursday introduced separation of the submit of chairman of the board and the MD-CEO. Nitin Paranjpe, at present chief working officer of Unilever, would be the new non-executive chairman of HUL, with impact from March 31. The Nomination & Remuneration Committee (NRC) of the HUL board beneficial his appointment to the board, which accepted the advice.

Sanjiv Mehta, who was earlier chairman and MD, will proceed as MD and CEO. On February 15, the Securities and Exchange Board of India (Sebi) made the splitting of the submit of chairman and managing director (CMD) voluntary.

Paranjpe will tackle a brand new position as chief transformation officer & chief folks officer, main the enterprise transformation, and heading the HR perform for Unilever efficient April 2022. He can also be a member of the supervisory board of Heineken NV.

“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,” Mehta stated.

“I look forward to working closely with Sanjiv and the board to further strengthen the company,” Paranjpe stated.