HUL shares zoom 3% on key changes in Management Committee

Shares of Hindustan Unilever Limited (HUL) zoomed 3 per cent to hit an intraday high of Rs 2001.90 on BSE after the company announced two key appointments to its Management Committee.
 
Market cap of the firm rose to Rs 4,69,636.30 crore. The shares stand lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
 
Madhusudhan Rao will be appointed as Executive Director, Beauty & Wellbeing and Personal Care, HUL and Deepak Subramanian, will be appointed as Executive Director, Home Care, HUL.
 
“Madhusudhan takes over from Priya Nair who will move into her new global role as Beauty & Wellbeing, Chief Marketing Officer. Deepak will take over from Prabha Narasimhan, who has decided to leave the Company to pursue an external opportunity,” the company said.
 
Sanjiv Mehta, Chairman and Managing Director, HUL said, “I am delighted to welcome Madhusudhan and Deepak to the HUL Management Committee. Madhusudhan has a successful track record in a variety of operational and strategic roles. He has brought in a strong performance edge in his teams and has pioneered several innovations that uphold Unilever’s high science and technology credentials.”
 
“Deepak has championed innovation and sustainable strategies to significantly improve brand equity and deliver growth. He has demonstrated superior business acumen in building new categories primarily in start-up business verticals. I am certain that they will take the business to the next level of performance,” he added.
 
Talking about Priya’s contribution to the business, Sanjiv said, “She has been an active champion for building future skills and experimentation, and has led several pathbreaking marketing initiatives such as the Kan Khajura Tesan. Under her leadership, the business witnessed high growth in key categories driven by consumer centric innovations and award-winning, purpose-driven communication.”

“Prabha led Home Care to deliver a strong performance across South Asia over the last two years. She has contributed immensely towards embedding the Clean Future agenda into the Home Care product development strategy,” he added about Prabha, thanking both for their immense contribution.

“It brings me immense joy and pride to see our leaders move on to helm businesses both in Unilever globally, and in India Inc. I wish Priya all the success in her new global role and Prabha the very best for the new phase of her career,” he said. 

 Recently, the country’s leading fast moving consumer goods (FMCG) major said that it is all set to segregate the posts of chairman and managing director (MD) from March 31, 2022.
 
The Mumbai-headquartered firm will have Nitin Paranjpe as its non-executive chairman while the current chairman and MD Sanjiv Mehta will continue to lead the executive roles as its chief executive officer and MD.