Hindustan Unilever (HUL) Managing Director and Chief Executive Officer Nitin Paranjpe will take up a global role at parent Unilever and become the President, Home Care, of the FMCG giant.
Sanjiv Mehta, Chairman, North Africa & Middle East (NAME), Unilever, will replace Paranjpe as MD and CEO of the company with effect from October 1.
In a statement to the stock exchanges, the FMCG company said: "Nitin Paranjpe, currently the Managing Director and Chief Executive Officer of HUL will be joining the Unilever Leadership Executive (ULE), taking on the role of President, Home Care."
Commenting on the development, HUL Chairman Harish Manwani said the changes reflect the company's strong commitment towards leadership development and its tradition of leveraging experiences and synergies of talent across markets.
"I wish to take the opportunity to express my deep appreciation for the significant contribution that Nitin made to the business in India and his leadership in driving the growth agenda," Manwani said.
Paranjpe will be following the footsteps of his predecessors, including Manwani and Vindi Banga, who have moved from executive positions in HUL to play a bigger role in Unilever's global positions.
The company said Sanjiv Mehta's appointement as the new CEO has been approved by its board and will be subject to approval of the company's shareholders.
"He (Mehta) will also be responsible for South Asia cluster which includes India, Pakistan, Sri Lanka, Bangladesh and Nepal," the statement added.
HUL, which employs over 16,000 people in India, markets various brands including Lux, Lifebuoy, Surf Excel and Pepsodent.