HARISH MANWANI CO-OPTED AS DIRECTOR ON HLL BOARD
HLL BOARD PROPOSES TO ELECT HARISH MANWANI AS
NON-EXECUTIVE CHAIRMAN POST AGM IN JUNE '05
MUMBAI, May 02, 2005: At a meeting of the Board of Directors of Hindustan Lever
Limited (HLL) held on April 29, 2005, the Board has decided to co-opt, Mr. Harish
Manwani, President - Asia & Africa of Unilever as an Additional Director on the Board
Consequent to him becoming President - Foods of Unilever, Mr. M S Banga has advised
the Board that he will not seek re-election as a Non-Executive Director at the AGM of the
Company scheduled for June 24, 2005.
It is the intention of the Board to elect Mr. Harish Manwani as the Non-Executive
Chairman of HLL in succession to Mr. MS Banga from the conclusion of the AGM on
June 24, 2005.
HLL's current National Management, comprising the Vice Chairman, Mr. M.K. Sharma,
Mr. D. Sundaram (Director - Finance & IT), Mr. Arun Adhikari (Managing Director -
HPC) and Mr. S. Ravindranath (Managing Director - Foods) continues unchanged. The
National Management committee has responsibility for HLL's performance, and overall
coordination of the Divisional Structure and Corporate Functions.
On this occasion, Mr. Banga commented "In these last years, we have strengthened the
company by focusing on our 35 FMCG Power Brands. We have improved quality and
affordability. We have also built our core functional capabilities and created a more agile
and consumer connected company. Today we have a vibrant and energized team that is
confident of growing with India."
Mr. Manwani commented on the development stating that “I feel privileged to be serving
HLL as the Non-Executive Chairman. The company has a long history of
success with intrinsic strengths in brands, technology, distribution and an enormous talent
pool. While there may be competitive challenges, HLL is strongly placed to overcome
these and will continue to play a very significant role to serve the needs of the Indian