Mumbai, Aug. 11: FMCG major Hindustan Unilever Ltd (HUL) today split its home and personal care business into two divisions, besides announcing key changes in the management committee.
Analysts said the significant growth of the home and personal care businesses over the past five years prompted the move. The company may have felt that they separately needed representation at the top executive level.
“Both the businesses have reached a critical mass and HUL would have felt that splitting HPC (home and personal care) will give them a good opportunity to focus individually and grow particularly at a time the economy is on a revival mode,” an analyst, who did not wish to be identified, said.
Sanjiv Mehta, CEO and managing director of HUL, said the company reorganised the businesses to ensure a greater focus on the growth drivers. The home and personal care business generated sales of Rs 21,440 crore for the year ended March.
The company also announced some key changes in the management committee related to the two divisions.
A statement from HUL said Hemant Bakshi, the executive director (HPC), would be appointed as executive vice-president of Unilever Indonesia. The appointment is subject to the approval of Unilever Indonesia’s external board.
Samir Singh, the global brand vice-president (Lifebuoy) and vice-president of personal care lead, South Asia cluster, Unilever, will be appointed as executive director (personal care) of HUL.
Priya Nair, vice-president (laundry), will be appointed as the executive director (home care).