Sanjiv Mehta to succeed Harish Marwani as HUL’s Chairman
Harish Manwani will be retiring post forthcoming AGM as non-executive Chairman by June 2018 after serving the position for 13 years
Sanjiv Mehta, MD, Hindustan Unilever (HUL), has been appointed as executive Chairman of the company, succeeding Harish Manwani. Harish Manwani will be retiring as non-executive Chairman by June 2018 after serving the position for 13 years and the company for 42 years. He is known for taking big bets and difficult decisions.
HUL board has approved the re-appointment of Sanjiv Mehta as MD and CEO for the next five years, after completion of his present term in October 2018, subject to shareholder’s approval.
HUL also stated that since SEBI has decided to split the roles of Chairman and MD by April 2020, company will ensure the separation of the two positions by then.
Hindustan Unilever Ltd ended at Rs1,417 up by Rs8.1 or 0.57% from its previous closing of Rs1,408.90 on the BSE.