Indian FMCG major Hindustan Unilever (HUL) has appointed Rajneet Kohli as the new executive director of foods business, effective from 7 April.
He will succeed Shiva Krishnamurthy, who is leaving the company to pursue an “external opportunity”.
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In a media release, HUL said that Kohli will also join its management committee.
HUL CEO and managing director Rohit Jawa said: “Foods is a large business unit for HUL with strong growth potential. Rajneet brings extensive experience in managing large foods and beverages businesses and driving high performance.
Jawa also expressed confidence that Kohli will lead the foods business “to the next phase of growth and transformation”.
Kohli, with a career spanning more than 28 years in the consumer goods and retail industries, recently resigned from his position as CEO Of Britannia Industries.
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By GlobalDataDuring his tenure at Britannia, he led the company through product innovation, brand-building initiatives, and enhanced digital capabilities, HUL said.
Prior to Britannia, he held leadership positions at Jubilant Foodworks, The Coca-Cola Co. and Asian Paints.
HUL’s foods and refreshment division comprises brands such as Brooke Bond, Lipton, Kissan, Knorr, Kwality Wall’s, Horlicks and Magnum.
In the financial year 2023-24, the division reported an underlying sales growth of 4%, with revenue reaching Rs152.92bn ($1.78bn) and an EBIT of Rs28.51bn.
In November, HUL’s UK-headquartered parent company Unilever confirmed the planned spin-off of its ice-cream business in India, along with a similar move in Indonesia.
The restructuring is part of the global strategy of Unilever to demerge its ice-cream division.
According to an official statement on 25 November, HUL’s ice-cream business will be separated and listed independently in the local market, pending board and shareholder approval in early 2025.
