HUL appoints Rohit Jawa as MD and CEO To drive innovation in the FMCG sector.

Rohit Jawa will take over as managing director and CEO of Hindustan Unilever Ltd (HUL) in less than a month. Jawa, a senior UK-based parent company Unilever employee, will follow Sanjiv Mehta as MD and CEO. On June 27, his five-year term as MD and CEO of HUL will begin. 

In 1988, Rohit began working at HUL as a management trainee. He has a demonstrated history of achieving consistent economic success in India, Southeast Asia, and North Asia. Rohit assisted in transforming the company into Unilever's third-largest globally while serving as Chairman of Unilever China and EVP of North Asia.

As MD and CEO of HUL, Jawa would earn Rs 21.43 crore annually, according to the consumer goods giant's annual report. In FY24, he would also be given an additional Rs 4.83 crore in mobility-linked allowances. Jawa be paid more than Sanjiv Mehta, the CEO of HUL in FY2023. Mehta earned an annual salary of Rs 22.36 crore in 2022–2023 and will retire on June 26. According to the report, Mehta gained 164 times more than the typical HUL employee.

On March 31, 2023, HUL had 6,697 permanent employees compared to 8,480 a year earlier. The business explained that while the FY22 number included personnel from subsidiaries and group companies, the FY21 number only had those working for HUL. According to the research, the median rise in employee compensation for FY23 was 10.73%. Nitin Paranjpe, chairman of HUL, reported in his report that "we completed a ninth consecutive quarter of double-digit underlying sales growth and in the financial year, despite a...highly inflationary external climate, we gained about 8,000 crores to our turnover.

The largest manufacturer of fast-moving consumer products in India is HUL. The large FMCG company recorded a 16% increase in turnover to Rs 14,986 crore in Q3 FY23 compared to Q3 FY22, leading to a 12% increase in standalone net profit to Rs 2,505 crore. On the BSE, shares of Hindustan Unilever increased by 0.01% to Rs 2,460.

— Harshita Kumar

Also,  Read  Jensen Huang, a billionaire with surging wealth



Search Anything...!