Hindustan Unilever Limited (HUL) CEO and Managing Director, Sanjiv Mehta will be appointed the President Commissioner (Non-Executive Chairman) of Unilever Indonesia, the company said in a press release on June 30.
Unilever Indonesia is a public company and the appointment is subject to approval from shareholders at Unilever Indonesia’s next Extraordinary General Meeting to be held on July 28, 2022.
“He will join the company’s Board of Commissioners and chair the same in a non-executive capacity,” the company said.
Mehta will continue to be Chief Executive Officer and Managing Director, Hindustan Unilever Limited (HUL) and President, Unilever South Asia. He is also a member of the Unilever Leadership Executive.
The Board of Commissioners of Unilever Indonesia is responsible for overseeing the policy and the implementation of the corporate governance agenda of the company and providing advice to the Board of Directors in managing the company.
Established in 1933, Unilever Indonesia is one of Indonesia’s foremost Fast Moving Consumer Goods (FMCG) companies with a turnover of $2.7 billion as of December 2021. Unilever Indonesia has nearly 5,000 employees. It manufactures over 40 Unilever brands including local jewels Bango and Sariwangi across nine factories situated in the country.Unilever announced a restructuring in January that is aimed at helping the company generate 600 million euros of cost savings while adopting a leaner structure. According to company executives, Unilever’s matrix structure, under which the teams report to several heads, has become redundant and was no longer working. The proposed new organisation model will result in a 15 percent reduction in senior management roles, while junior management roles will be trimmed by 5 percent, equivalent to about 1,500 roles globally, the company said in a statement.