New Delhi: Consumer goods company Hindustan Unilever Ltd (HUL) on Thursday announced the splitting up of positions of the company’s chairman of the board and the chief executive officer & managing director, in line with Securities and Exchange Board of India’s mandate seeking listed companies to now voluntarily split the two roles.
The maker of Dove soaps and Knorr soups announced the appointment of Nitin Paranjpe, currently chief operating officer of Unilever as a non-executive chairman of the company with effect from 31 March, 2022. Sanjiv Mehta will continue as the CEO&MD of HUL.
The move comes after the country’s markets regulator Sebi had earlier mandated that the two roles be separated from 1 April after a two-year extension to the initial roll-out date.
However, earlier this month Sebi revised its earlier stance making it voluntary rather than mandatory for companies to comply with the rule following…