Hindustan Unilever to split foods and refreshment biz
business Updated: Jun 03, 2016 06:01 IST
MUMBAI: Hindustan Unilever, the largest fast-moving consumer goods (FMCG) maker in the country, will split its foods and refreshment business into separate units for higher sales.
The change is in line with the structure of its parent Unilever, the company said in a statement.
As a part of the restructuring, Sudhir Sitapati, currently vicepresident, refreshments, South Asia & Africa, will be inducted into the management committee of HUL as executive director, refreshments.
Geetu Verma, now executive director, foods & refreshments, will continue to look after the business.
“Both the businesses have registered strong growth under Geetu’s able leadership and have now reached significant scale. The reorganisation into two separate businesses will enable sharper focus, and help to fully leverage growth opportunities in line with HUL’s ambitions,” the Mumbai-based maker of Knorr soups and Lipton Tea, said in a statement.
Sales of HUL’s packaged foods business, which includes Knorr and Kissan, rose 12% during January-March 2015-16, while the company’s topline grew 4%. HUL shares closed up 1.6% at 868.70 on Thursday, while the benchmark Sensex rose 0.5%.