MUMBAI: Global consumer giant Unilever has rejiged its top management for its Indian unit Hindustan Unilever by elevating its current managing director NitinParanjpe as global head of home care business.Paranjpe, who will report to global CEO PaulPolman, will be replaced in India bySanjivMehta who has currently heading Middle-East and North Africa.
In his five years as HUL's CEO, Paranjpe has added more than Rs 10,000 crore in HUL's revenues taking the total to roughly Rs 26,000 crores now. That translates into the incremental sales of HULBSE -3.81 % being almost double than the total revenues of rivals including Dabur, Godrej or P&G in India. Under him, the company has made a broader push upmarket in new and pricier categories that have helped company's share price and net profit rise to record levels five years after he took the top position.
In fact, when Paranjpe took over, the company was struggling and losing market share in virtually every segment it operates. Now it has managed to either gain or maintained shares in key categories.
While India is a key market for Unilever contributing more than 7% of global sales, Paranjpe's will now be handling a home care business of 9.1 billion, with an underlying sales growth of 10%. The division is also gaining market shares in Europe, China and South Africa from key rivals including P&G and Henkel.
However, home care business isn't new to Paranjpe who joined HUL in 1987 as a management trainee, has risen rapidly through the ranks. During his initial years, he worked as area sales manager for detergents. He served two years in the global headquarters in London, and in March 2006, he was elevated to the post of executive director of the HPC business.