‘HUL is an emotion’, says Sanjiv Mehta signing off and handing over CEO and MD baton to Rohit Jawa:
In a heartfelt LinkedIn post, Sanjiv Mehta, the former CEO and MD of Hindustan Unilever Limited (HUL), expressed his deep emotional connection to the company, which had been a significant part of his life for the past decade. With gratitude and cherished memories, Mehta bid farewell to the FMCG major, acknowledging his journey with his wife, Mona Mehta.
As Mehta passed the baton to Rohit Jawa, he welcomed the new era of leadership at HUL. On June 27th, Rohit Jawa assumed the role of Managing Director and Chief Executive Officer of HUL, taking the reins of this esteemed organization. The transition marked a significant moment in HUL’s history, coinciding with the company’s 90th annual general meeting.
Sanjiv Mehta’s retirement from HUL concluded a remarkable tenure that brought growth, innovation, and success to the company. Throughout his leadership, HUL has held a special place in Mehta’s heart, and he expressed gratitude for the invaluable experiences and memories it provided.
With the new leadership at the helm, HUL continues its journey as a renowned FMCG company, committed to meeting the needs of its consumers and driving sustainable growth. The legacy of Sanjiv Mehta will forever be etched in the company’s history, while Rohit Jawa embarks on a new chapter, carrying forward HUL’s vision and values.
As the HUL family bids farewell to Sanjiv Mehta, they welcome Rohit Jawa and look forward to the continued success and growth of the company, embracing the spirit of innovation, excellence, and purpose that has defined HUL for decades.
Sanjiv Mehta’s LinkedIn post encapsulated the mix of emotions he experienced as he bid farewell to Hindustan Unilever Limited (HUL) after a remarkable ten-year journey. While acknowledging the bittersweet nature of parting ways, Mehta expressed his enthusiasm for his next venture while also reflecting on the fond memories and the impact he made during his tenure.
In his post, Mehta acknowledged the support and curiosity of many who had asked him about his feelings regarding leaving HUL. While goodbyes can be difficult, he found solace knowing he was going behind a stronger HUL that had significantly impacted society and India.
Throughout his time at HUL, Mehta led the company with a focus on growth, innovation, and social impact. He commended his successor and the dedicated team at HUL, cheering them on to continue the company’s legacy of excellence and purpose.
Looking ahead to his “next innings,” Mehta conveyed a sense of excitement and anticipation. While bidding farewell to HUL, he expressed gratitude for the experiences, achievements, and relationships he formed during his tenure.
Mehta’s post showcased his deep connection to HUL and his commitment to leaving a lasting impact. As he embarked on his new journey, he expressed confidence in HUL’s continued success and its profound influence on society.
The LinkedIn post encapsulated the emotions of gratitude, optimism, and a sense of fulfilment as Sanjiv Mehta closed the chapter on his HUL tenure, celebrating his accomplishments and looking forward to new opportunities.
In his heartfelt LinkedIn post, Sanjiv Mehta expressed profound appreciation for the remarkable dedication and indomitable spirit of the people at HUL and everyone who had been a part of his journey. He acknowledged the HUL team’s unwavering commitment and exceptional efforts, emphasizing that they had given their best throughout his tenure.
Mehta celebrated the collective achievements and contributions of each individual who had been a part of his professional journey at HUL. He expressed gratitude for their unwavering support and acknowledged their invaluable role in the success and growth of the company.
With a heart full of gratitude, Mehta bid farewell to HUL, referring to it as his “workplace” and “karma bhumi” (land of work). The term highlighted his deep connection towards the company and its significant impact on his life and career.
By expressing his appreciation and recognizing the efforts of the HUL team, Mehta’s words reflected his genuine gratitude and admiration for the people who played a pivotal role in making his tenure at HUL a memorable and successful one.
Overall, his LinkedIn post conveyed intense gratitude, admiration, and respect for the people and the organization, underscoring the deep bond he formed with HUL during his journey.
During the annual general meeting (AGM) of Hindustan Unilever Limited (HUL), Sanjiv Mehta acknowledged the company’s impressive performance in the financial year 2022-23. Despite a challenging macroeconomic environment characterized by geopolitical uncertainties, high commodity inflation, and sluggish market growth, HUL achieved substantial results.
Mehta emphasized the company’s laser-sharp focus on meeting the evolving needs of consumers while safeguarding its business model. He expressed pride in the company’s ability to navigate the challenging landscape and deliver exceptional outcomes.
Regarding financial performance, HUL recorded a turnover of Rs 58,154 crore for the fiscal year, representing a 16% increase compared to the previous year. This growth signifies a remarkable two-fold increase over the past decade. The FMCG firm also achieved a profit after tax of Rs 9,962 crore, reflecting a 13% year-on-year growth and a three-fold increase over the last decade.
Despite unprecedented inflation, HUL maintained a healthy EBITDA margin of 23.4%. Mehta highlighted the company’s resilience in managing costs and maintaining profitability in challenging market conditions.
In recognition of the company’s performance, the Board of Directors proposed a final dividend of Rs 22 per share, subject to approval by the shareholders at the AGM. Along with the interim dividend of Rs 17 per share, the total dividend for the year would amount to Rs 39 per share, representing a 15% increase compared to the previous fiscal year.
Mehta’s address at the AGM highlighted HUL’s impressive financial performance, ability to adapt to a challenging environment, and commitment to delivering value to shareholders. The company’s continued growth and strong financial results testify to its robust business strategy and focus on meeting consumer needs.
During his address at the AGM, Sanjiv Mehta expressed confidence in Hindustan Unilever Limited’s (HUL) strategies to thrive in a rapidly changing and challenging business environment. He emphasized the company’s clear and compelling Compass strategy, which is underpinned by its purpose of making sustainable living commonplace. Mehta believed this strategy would position HUL as a resilient and agile company.
Mehta took the opportunity to express his gratitude to the dedicated individuals who contributed to HUL’s success. He recognized the efforts of employees working in various capacities, including offices, factories, the salesforce, and the extended value chain. Their commitment and hard work were crucial in making HUL the leading FMCG business in India.
By acknowledging the challenges ahead and affirming the company’s commitment to sustainable living, Mehta conveyed his confidence in HUL’s ability to adapt and thrive. The company’s strong foundation, guided by its Compass strategy and supported by its dedicated workforce, positions it well for future growth and success in the dynamic business landscape.
