The move will be subject to approval from shareholders at Unilever Indonesia’s next Extraordinary General Meeting to be held on 28 July 2022," said the company.
Mehta will continue to head the Indian business and also continue as the president of Unilever South Asia. He is also a member of the Unilever Leadership Executive.
The company’s market capitalisation more than trebled to Rs 5.2 lakh crore since Mehta joined HUL in September 2013 as it added about Rs 4 lakh crore in value — more than the combined market cap of rivals Colgate, Dabur, Marico and Godrej Consumer Products. Mehta also oversaw the Indian business outpace Brazil to become the second-largest market behind the US in terms of sales for Anglo-Dutch consumer products giant Unilever.
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