Harish Manwani Co-Opted As Director On HLL Board
02-05-2005 :
At a meeting of the Board of Directors of Hindustan Lever Limited (HLL) held on April 29, 2005, the Board has decided to co-opt, Mr. Harish Manwani, President - Asia & Africa of Unilever as an Additional Director on the Board of HLL.
Consequent to him becoming President - Foods of Unilever, Mr. M S Banga has advised the Board that he will not seek re-election as a Non-Executive Director at the AGM of the Company scheduled for June 24, 2005.
It is the intention of the Board to elect Mr. Harish Manwani as the Non-Executive Chairman of HLL in succession to Mr. MS Banga from the conclusion of the AGM on June 24, 2005.
HLL's current National Management, comprising the Vice Chairman, Mr. M.K. Sharma, Mr. D. Sundaram (Director - Finance & IT), Mr. Arun Adhikari (Managing Director - HPC) and Mr. S. Ravindranath (Managing Director - Foods) continues unchanged. The National Management committee has responsibility for HLL's performance, and overall coordination of the Divisional Structure and Corporate Functions.
On this occasion, Mr. Banga commented "In these last years, we have strengthened the company by focusing on our 35 FMCG Power Brands. We have improved quality and affordability. We have also built our core functional capabilities and created a more agile and consumer connected company. Today we have a vibrant and energized team that is confident of growing with India."
Mr. Manwani commented on the development stating that “I feel privileged to be serving HLL as the Non-Executive Chairman. The company has a long history of success with intrinsic strengths in brands, technology, distribution and an enormous talent pool. While there may be competitive challenges, HLL is strongly placed to overcome these and will continue to play a very significant role to serve the needs of the Indian consumers"
