Hindustan Lever announces Board approval for name change to Hindustan Unilever
20-02-2007 :
The proposal for the name change will be taken up at the next Annual General Meeting of the shareholders for their approval.
The Company believes that the proposed name change provides the optimum balance between maintaining the heritage of the Company and the future benefits and synergies of global alignment with the corporate name of Unilever. Most importantly the proposed name retains “ Hindustan” as the first word in its name to reflect the Company’s continued commitment to local economy, consumers and customers and employees.
Mr Harish Manwani, Chairman, Hindustan Lever Limited and President, Unilever Asia Amet, said, “The name change is a significant milestone. It retains the company’s continued commitment towards its local roots while leveraging the global scale and reputation of Unilever with its consumers and other stakeholders in India.”
Going forward, the alignment of the corporate name will be a source of considerable strength and synergies to harness Unilever’s global scale and size for the benefit of the Indian business both in domestic and export markets. It would also assist in attracting and retaining talent both locally and internationally – a key imperative for business success in the present day context.
The Company has adopted and subscribed to a vision Statement: “To earn the Love and Respect of India by making a Real Difference to every Indian”. The Company remains committed to pursue this vision as it believes that this will not only be key to its business success, but would also make business sustainable and enduring.
Notes To The Editor
1) The current name of the Company Hindustan Lever Limited was adopted in 1956, consequent to the amalgamation of Hindustan Vanaspati Manufacturing Company Limited and Lever Brothers India Limited.
2) HLL has deep roots in India by virtue of its operations spanning over seventy years and its values and culture represent a fine balance between a global corporation and a local company with significant local shareholding. It is believed that the proposed name would continue to provide and reflect this balance in coming years.
3) The Registrar of Companies has confirmed that the new name is available for registration under Section 20 of the Companies Act 1956, and subject to the resolution being passed, an application will be made to the Central Government for approval to the change of name under Section 21 of the Act.
About HLL
HLL is India's largest Fast Moving Consumer Goods Company, touching the lives of two out of three Indians. HLL’s mission is to “add vitality to life” through its presence in over 20 distinct categories in Home & Personal Care Products and Foods & Beverages. The company meets everyday needs for nutrition, hygiene, and personal care, with brands that help people feel good, look good and get more out of life.
