In a recent development, Hindustan Unilever Limited (HUL) announced Harish Manwani's decision to retire as non-executive chairman of the company following the forthcoming annual general meeting. Sanjiv Mehta, who is currently the CEO and managing director, will take over as the chairman and managing director of HUL.
Manwani (64) took over as the non-executive chairman of HUL in July 2005. He oversaw a period of sustained growth with the business nearly tripling in size and HUL reinforcing itself as one of India's most admired companies.
Sanjiv Mehta, CEO and MD of HUL, shares in this regard, "Harish leaves behind a legacy that few will be able to match. He has lived the values that make HUL such a great company. Through his passion, commitment and endless energy, he leaves a lasting impact on the business. I will personally miss his leadership and wise counsel."