HUL Board Names Rohit Jawa Next MD & CEO, To Succeed Sanjiv Mehta
Hindustan Unilever Ltd (HUL) named Rohit Jawa as its managing director and chief executive officer on Friday, succeeding Sanjiv Mehta, who is retiring after spending nearly 10 years at the company's helm.
Jawa, currently chief of transformation for Unilever, will take charge as MD and CEO from June 27, Unilever's Indian unit said in an exchange filing.
The 56-year-old, who joined Hindustan Unilever as a management trainee in 1988, takes over the maker of Dove soaps and Sunsilk shampoos at a time when consumer companies are facing inflationary challenges that have hurt their margins.
Fast-moving consumer goods (FMCG) companies - particularly those that make personal care products - have struggled to pull in sales from cash-strapped rural consumers, worst affected by the Covid pandemic and Russia-Ukraine war-led inflation.
Growth in India's FMCG industry slowed in the quarter ended December 2022 sequentially as rural shoppers spent less on items such as washing powder and shampoo, according to market intelligence firm NielsenIQ.
Last year, Unilever had said the US, India and China were three of its key growth markets, underlining plans to grow in India amid rising use of the internet in the country and the economy's expansion.
HUL recently hiked royalty and central services fees it pays its majority owner Unilever to 3.45% of its turnover over three years from 2.65% earlier.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
The Battle For Depositors: US Lenders Ramp Up Efforts Amidst Rate Uncertainty
In the competitive landscape of the US banking sector, retaining depositors is paramount for lenders seeking to maintain... Read more
Beyond Capital: Unveiling The Complexities Of Bank Failure Prediction
In the realm of banking, the ability to predict and prevent failures is paramount for financial stability and consumer c... Read more
Central Banks And The Economic Horizon: Steering Through Uncertaintie
In the evolving landscape of global financial markets, the strategic role of central banks has come under intense scruti... Read more
Transforming Financial Operations With Robotic Process Automation
Author: Ricardo Goulart ... Read more
The Role Of Machine Learning In Fraud Detection
Author: Gerardine Lucero  ... Read more
Principles Of Islamic Banking And Finance
When it comes to banking, a significant new contender has entered the ring. The principles of Islamic banking and financ... Read more