Manwani joined HUL as a management trainee in 1976 and joined the HUL board of directors in 1995 as a director responsible for the personal products business.
Sanjiv Mehta, the current CEO and managing director of Hindustan Unilever (HUL), will take over as the chairman and managing director of the FMCG major, with Harish Manwani deciding to retire from the post of non-executive chairman following the forthcoming annual general meeting (AGM), HUL said in a statement on Thursday. The 64-year-old Manwani took charge as the non-executive chairman of HUL in July 2005. Manwani joined HUL as a management trainee in 1976 and joined the HUL board of directors in 1995 as a director responsible for the personal products business. In 2005, he was appointed to the Unilever Executive as president, Asia, Africa, Middle East, and the role later expanded to include Central and Eastern Europe. From 2011 to 2014, he was the chief operating officer of Unilever. “He oversaw a period of sustained growth, with the business nearly tripling in size and HUL reinforcing itself as one of India’s most admired companies”, the statement said.
Commenting on the development, Mehta said, “Harish leaves behind a legacy that few will be able to match. He has lived the values that make HUL such a great company. Through his passion, commitment and endless energy, he leaves a lasting impact on the business. I will personally miss his leadership and wise counsel”. The company also said that the HUL board had, as part of its periodic succession planning meetings, discussed the succession plan concerning the chairman. “The company has taken note of Sebi’s recent decision to accept the recommendation of the Kotak Committee to separate the positions of the chairman and the managing director from April 2020, for the top 500 companies by market capitalisation. The HUL board will ensure compliance with the new regulation of separation of the two positions by April 2020,” it said.