On March 11th, Unilever CEO, Sanjiv Mehta, announced that he will be stepping down from his position after the conclusion of Hindustan Unilever Limited’s (HUL) Annual General Meeting on June 26th, 2023. Mehta has served Unilever businesses for over three decades, and as HUL’s CEO for over two decades, making his tenure one of the longest in the company’s history.
During Mehta’s time as CEO, HUL’s turnover increased by 2.3 times, adding Euro 4 billion (Rs 32,000 crores) to its revenue. Additionally, the company’s EBITDA margin improved by 860 basis points and EBITDA by 3.5 times in the last ten years. The market capitalization of HUL also increased by 5 times to over $70 billion, surpassing the market cap of many global FMCG companies.
Mehta expressed his gratitude to his colleagues across 25 countries, who have worked with passion, commitment, perseverance, and loyalty, for making his journey an exhilarating ride. He also welcomed his friend and successor, Rohit Jawa, who will be returning to HUL.
As Mehta looks forward to his next endeavor, he quoted Robert Frost’s famous lines, “Miles to go before I sleep.” Mehta’s departure marks the end of an era at HUL, and his achievements will be remembered for years to come.