A day after FMCG giant Hindustan Unilever announced the departure of Chief Executive Rohit Jawa, reports suggest that Chief Financial Officer (CFO) Ritesh Tiwari is also likely to step down.
As per CNBC-TV18 reports, Tiwari is expected to take up a global role. He currently serves as Executive Director of Finance & IT, and also as the CFO of Hindustan Unilever.
However, the company later clarified that Tiwari continues to be the Executive Director, Finance, IT & Chief Financial Officer of the Company. "At HUL, we consistently nurture talent and groom leaders as part of our ongoing talent development process. If there are any developments in this regard, necessary disclosures will be made," the spokesperson said.
Tiwari began his career with Unilever in 1999 as a management trainee and has held various senior positions since. Before becoming HUL’s CFO, he was Vice President of Finance – Global Performance Management at Unilever, and CFO of Unilever International, based in London.
India's largest consumer company announced yesterday the elevation of Priya Nair as the new Managing Director and CEO, succeeding Rohit Jawa. His exit marks one of the shortest tenures in the company’s top role, ending after just two years. The last comparably short stint was by Douglas Baillie, who served as MD & CEO from 2006 to 2008.
Nair will become the first woman to serve as MD and CEO in HUL's 92-year history. She is currently President, Beauty & Wellbeing (as of 2023), where she managed a €13.2 billion business including hair and skin care brands such as Dove, Sunsilk, Clear, and Vaseline.
In an exchange filing, the FMCG major stated that Nair will take over from Rohit Jawa, who will step down as CEO and MD on July 31, 2025, to pursue the next chapter in his personal and professional journey.
Hindustan Unilever's shares jumped 4.63% to ₹2,520.00 in today’s trade.
