Sanjiv Mehta, a visionary business executive, and former Chairman and Managing Director (MD) of Hindustan Unilever Limited (HUL), recently retired in June 2023, after an illustrious career spanning several decades. Mehta’s journey from a young professional to a seasoned leader has been marked by remarkable achievements, compassionate capitalism, and a relentless pursuit of growth and innovation. Under his able leadership, HUL experienced significant success and emerged as one of India’s most valuable and influential companies.
His extensive profile does not only spreads across Hindustan Unilever. He is also a Non-Executive Independent Director for Air India, and an Independent Member on the Danone Board. Furthermore, he is the president FICCI from 2021-2022.
Early life and career beginnings
Born in Kanpur, Uttar Pradesh, in 1961, Sanjiv Mehta grew up in Mumbai. He comes from a family with a strong academic and professional background, as his father, SP Mehta, was a retired senior executive with the Reserve Bank of India. Mehta pursued a Commerce degree and later became a Chartered Accountant from the Institute of Chartered Accountants of India. He further honed his leadership skills by completing the Advanced Management Program at Harvard Business School.
Mehta’s professional journey started in 1983 when he joined Union Carbide. One of the pivotal moments in his early career was being part of the crisis management team during the Bhopal Gas tragedy in 1984. This experience shaped his perspective on compassionate capitalism and the importance of values-led businesses.
Ascending the ranks in Unilever
Mehta’s association with Unilever began in 1998 when he joined Unilever Bangladesh as a commercial director. His talent and dedication were quickly recognized, and he was appointed Chairman and Managing Director of Unilever Bangladesh in 2002. Subsequently, he took on the mantle of leading Unilever’s businesses in various regions, including the Philippines, North Africa, and the Middle East.
In October 2013, Sanjiv Mehta assumed the responsibility of heading Unilever’s business in India and South Asia, as the CEO and MD of Hindustan Unilever Limited. This marked the beginning of a transformative era for HUL and its stakeholders.
Success Strategies: winning in many Indias and re-imagine HUL
During Mehta’s tenure as CEO, HUL introduced several distinctive and hard-to-replicate strategies that contributed to the company’s consistent business growth and future-fit organization capabilities. Two of the most noteworthy initiatives were “Winning in Many Indias” (WiMI) and “Re-imagine HUL.”
“Winning in Many Indias” emphasized understanding and catering to the diverse consumer needs in India, which is a country with varying regional preferences and cultural nuances. This approach helped HUL penetrate deeper into untapped markets and expand its customer base significantly.
“Re-imagine HUL” focused on fostering innovation, sustainability, and inclusivity within the organization. This drive towards reinvention enabled HUL to stay ahead in the rapidly changing FMCG landscape and tackle social and environmental challenges responsibly.
Stellar performance and unprecedented growth
Under Sanjiv Mehta’s dynamic leadership, HUL witnessed an impressive growth trajectory. The company’s turnover reached over Rs 58,000+ Crores (USD 7 billion), and its market capitalization skyrocketed from $17 billion to an astonishing $76 billion, making HUL one of the most valuable businesses in India.
Mehta’s tenure also saw a significant increase in the representation of women in management roles at HUL. The share of women in the management rose from under 20 per cent to an impressive 45 per cent during his leadership.
Strategic acquisitions and deals
One of the hallmark achievements of Mehta’s tenure was HUL’s strategic acquisition of major brands in the food and refreshment category, such as Boost and Horlicks. This acquisition bolstered HUL’s market share and strengthened its position in the highly competitive consumer goods market in India.
Passion for cricket and personal collectibles
Beyond his corporate pursuits, Sanjiv Mehta is known for his passion for cricket. Throughout his career, he had the privilege of receiving personalized cricket bats with autographs and messages from some of India’s cricketing legends, including Sachin Tendulkar, Rahul Dravid, and Virat Kohli. These bats serve as treasured mementos that reflect Mehta’s love for the sport and his close connections with influential figures in the cricketing world.
Legacy and retirement
After 31 years of an exhilarating rise in his career, Sanjiv Mehta retired as the CEO and Chairman of HUL in June 2023. During his 10-year tenure at the helm, HUL’s revenue crossed the impressive milestone of Rs 50,000 crore in FY22. Turnover increased by 2.3 times, EBITDA margin rose by 8.6 percentage points, and market capitalization surged five times to a staggering $70 billion (Rs 5.65 trillion).
Rohit Jawa succeeded Sanjiv Mehta as the CEO of HUL, taking over from 27th June 2023. Mehta’s invaluable contributions to HUL and his relentless pursuit of excellence will undoubtedly leave a lasting legacy on the company’s future growth and success.
Net worth
As per reports by Business today, Sanjiv Mehta received an annual renumeration of Rs 22.36 crore for FY23, a minor increase from the previous year’s Rs 22.07 crore.
As the FMCG landscape evolves in an increasingly technology-enabled world, HUL, under the leadership of Rohit Jawa, is well-positioned to maintain its trajectory of success, employing digital tools and innovation to remain future-fit.
Sanjiv Mehta’s journey from a young professional at Union Carbide to the visionary CEO of HUL will be remembered as an inspiring tale of leadership, innovation, and impact. His legacy will undoubtedly continue to shape the future of HUL and India’s FMCG industry for years to come.