“I am very grateful to Nitin for everything he has done in the company. By the way, he will continue as the chair of Hindustan Unilever for the foreseeable future. And I am very grateful that he will use all his expertise and experience in that key role,” Unilever chief executive officer Hein Schumacher said.
Paranjpe, 61, joined Unilever’s Indian unit, Hindustan Lever (now Hindustan Unilever), in 1987 as a management trainee, and has risen rapidly through the ranks.
He was the youngest CEO at the Indian unit and had a successful five-year tenure at the helm of HUL before he took on the role of president-homecare business in 2013. Under his watch, annual revenue grew to Rs 26,000 crore in 2013 from Rs 16,000 crore in 2008. He was also Unilever’s second Indian-origin COO in 2019.
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