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Hindustan Unilever today said its Managing Director and Chief Executive Officer, Nitin Paranjpe, will take up a global role at parent Unilever and become the President, Home Care, of the FMCG giant.
He will take over his new role in the Unilever Leadership Executive (ULE), with effect from 1, October, 2013.
Sanjiv Mehta, who is currently the chairman of North Africa and Middle East (NAME), will take over Paranjape's role as the managing director and chief executive officer.
Mehta will also be responsible for the South Asia cluster which includes India, Pakistan, Sri Lanka, Bangladesh and Nepal.
Paranjape joined the board of HUL in 2007, and was appointed as MD and CEO in April 2008. The 50-year-old mechanical engineering graduate, also took his masters degree in management from Jamnalal Bajaj Institute in Mumbai.
The latest announcement came as a part of a board meeting held today.
“The appointment has been approved by the board of directors of the company at its meeting on July 26, 2013 after the nominations and remuneration committee of the board had recommended the same to the board and will be subject to the approval of the shareholders,” HUL said, in a communication to the stock exchanges.
Paranjpe will be following the footsteps of his predecessors, including Manwani and Vindi Banga, who have moved from executive positions in HUL to play a bigger role in Unilever's global positions.
HUL, which employs over 16,000 people in India, markets various brands including Lux, Lifebuoy, Surf Excel and Pepsodent.
