Hindustan Unilever Limited (HUL) is an Indian consumer goods company headquartered in Mumbai. It is a subsidiary of the British company Unilever. Its products include foods, beverages, cleaning agents, personal care products, water purifiers and other fast-moving consumer goods (FMCGs).
HUL was established in 1931 as Hindustan Vanaspati Manufacturing Co. Following a merger of constituent groups in 1956, it was renamed Hindustan Lever Limited. The company was renamed again in June 2007 as Hindustan Unilever Limited.
As of 2019, Hindustan Unilever’s portfolio had 50+ product brands in 14 categories. The company has 21,000 employees and clocked sales of ₹34,619 crores in FY2017–18.
HUL is India’s largest Fast-Moving Consumer Goods company, with its products touching the lives of nine out of ten households in the country.
Former head retires
Sanjiv Mehta became the MD and CEO of HUL in October 2013, who took the business into a period of sustained growth.
HUL reported that during Sanjiv’s decade as the brains of the company, the business surpassed the 50 thousand crore turnover milestone and the market capitalization of the company has risen greater than 4 times from $17 billion to $75 billion, cementing HUL into India’s top 10 most valuable businesses.
Sanjiv actively stimulated the agenda of diversification which made HUL an inclusive organization.
Nitin Paranjpe, Non-Executive Chairman, HUL said that “Sanjiv with his foresight has led HUL to become a high-performing and future-fit business. He has been an integral part of the Unilever Leadership Executive and has driven the South Asia growth agenda as the president of the market cluster. As the President of FICCI last year, Sanjiv made a significant contribution towards the industry in India. Through his passion, commitment, and endless energy, he leaves behind a business that is now poised to achieve even greater heights.”
Appointment of new head
Hindustan Unilever (HUL) has appointed Rohit Jawa as the new Managing Director & CEO. Jawa will take the initiative at HUL from June 27, 2023. He will be succeeding Sanjiv Mehta who is retiring from HUL after a transformational tenure of 10 years.
Jawa will additionally take over as the President at Unilever South Asia. He will also join the Unilever Leadership Executive (ULE) effective from 1st April 2023. However, Jawa will join HUL as the CEO designate and whole-time director from 1st April, 2023.
Presently, Jawa is the Chief of Transformation for the British parent Unilever in London. At Unilever, he has accomplished the once-in-a-decade and end-to-end transformation.
Rohit Jawa began his career in 1988 with HUL as a management trainee and has a manifest of sustained business results across India, South East Asia, and North Asia. He has previously worked as EVP for North Asia & Chairman for Unilever China. He has propelled a major transformation of Unilever China into a competitive, profitable, and consistent business which is presently Unilever’s 3rd biggest globally. He was also the Chairman of Unilever Philippines where he supported the business into becoming one of the top 10 markets for Unilever globally.
HUL said in a statement that “Rohit’s ability to integrate the strength of traditional markets with digital technologies and future-fit business models, positions him well to take HUL into its next growth phase.”
On Rohit’s appointment, Nitin Paranjpe, Non-Executive Chairman, HUL said that “I am delighted to welcome Rohit back to India. He has a deep understanding of the business landscape, particularly in Asia, and has led the transformation of Unilever businesses in China and in the Philippines. I am certain that with his astute business acumen, and growth mindset Rohit will take HUL to the next level of performance.”
Disclaimer: We do not endorse or encourage you to take trades or investment decisions based upon our posts/research, all of your trading and investment activities are your own and should be taken through consultation with reputed financial advisors. The analysis posted on this website has been created by involving multiple mediums which are present over the Internet.