HUL conferred with Corporate Governance Award
This is the most prestigious corporate governance award in India.
The award was received by Dev Bajpai, Executive Director - Legal, HUL, on behalf of the company from his Excellency Shri ESL Narasimhan, Governor of Andhra Pradesh and Dr. M Veerappa Moily, Hon'ble Union Minister for Corporate Affairs, Government of India. Speaking about the award Dev Bajpai said, "high standards of corporate governance have been fundamental to the business of HUL since its inception. This recognition will certainly inspire us to further raise the bar on corporate governance in HUL." The ICSI bestows this award every year to those it considers to be the two best-governed companies in India.
Award Selection Process
The selection of the winning companies for translating good corporate governance into reality is made by a jury of distinguished practitioners in their respective fields, reflecting the prestigious nature of the award. The 20-member jury was chaired by Hon'ble Mr. Justice RC Lahoti, former Chief Justice of India. Some of the other eminent members of the jury included Ms. April Chan, President, Corporate Secretaries International Association, Mr Grant Kirkpatrick, Head, Corporate Affairs Division, OECD, Mr. Naresh Chandra, Former Cabinet Secretary, Government of India and Mr VK Shunglu, Former Comptroller & Auditor General of India among others.
The evaluation process for the award selection involved a number of rounds of screening, including feedback from Independent Directors of the company on governance practices. The companies were short-listed on the basis of performance in key areas of corporate governance including: Board independence and governance; Board systems and procedures; Transparency and disclosures compliances; Consistent shareholder value enhancement and value enhancement for other stakeholders; Corporate Social Responsibility; and other good corporate governance initiatives.
This award recognises not only the governance practices of HUL, but also the contribution made by the company towards its stakeholders and society at large.
Hindustan Unilever Limited,
B. D. Sawant Marg,
Chakala, Andheri (E),
Mumbai - 400 099.
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