Ramamurthy: New post
Mumbai, March 11: Sridhar Ramamurthy, the chief financial officer of Hindustan Unilever Ltd (HUL) is moving to London — joining a long line of top Indian executives who have assumed onerous responsibilities at the global headquarters.
At present, Ramamurthy is also the executive director finance & IT at HUL.
In a statement to the stock exchanges, the FMCG giant said P.B. Balaji, vice-president (finance) at Unilever Americas Supply Chain Company, would succeed Ramamurthy as executive director finance & IT and CFO.
He will join the HUL board and will be part of the management committee. The HUL board of directors approved Balaji’s appointment after the nomination and remuneration committee recommended his name to the board.
The changes will be effective from July 1.
HUL added that Ramamurthy would be part of the global markets executive team of Unilever.
Ramamurthy joined the company in 1989 and worked in a number of finance and commercial roles in India till December 2002 that included internal audit, factory commercial, supply chain and corporate accounts.
In 2003, he moved to Singapore to take up the position of vice-president — finance and controller, home and personal care business group for Unilever in Asia.
Because of the changes to the Unilever organisation between 2005 and 2008, his role expanded over the years and he was appointed as vice-president — finance and controller, Unilever Asia, Africa, Middle East, Turkey, Central & Eastern Europe, the largest of the three regions of Unilever.
On his return to India, he was appointed as executive director — finance & IT and chief financial officer of the company, effective July 2009.
On the other hand, Balaji joined HUL in May 1993 and has worked in various roles. Prior to moving to Unilever in 2011, Balaji was vice-president finance for the home & personal care business of HUL.
Ramamurthy is not the only senior executive to make it to a leadership role in the parent company.
Harish Manwani, non-executive chairman at HUL in April 2005, joined the Unilever executive as president, Asia Africa.
Last year, Nitin Paranjpe, then the managing director and chief executive of HUL, was elevated as the global head of the parent’s home care business.
Ashok S. Ganguly, who was the chairman of Hindustan Lever Ltd (the earlier name of HUL) from 1980 to 1990, later went on to become a member of the Unilever board of directors from 1990 to 1997.