Unilever beauty biz head Priya Nair is HUL's CEO

MUMBAI: HUL on Thursday named Priya Nair, who heads parent Unilever's beauty & wellbeing business, as MD & CEO. Nair, who joined HUL 30 years ago, will be the first woman to lead the consumer goods giant.

The London-based Nair, 53, will take over the corner office in Mumbai on Aug 1, succeeding Rohit Jawa who will step down as MD & CEO on July 31.

Jawa, who led HUL for a little over two years, was appointed for a five-year term ending June 26, 2028. His predecessor Sanjiv Mehta had held the CEO's office for 10 years. Nair has been appointed for five years. Analysts termed the development as surprising. "Nair is likely to be an aggressive MD. We expect gradual recovery in volume growth," analysts at Nuvama Institutional Equities said.

Nair is taking over at a time when the FMCG company is navigating sluggish growth, weighed down by tepid urban demand over the past few quarters. While there are signs of recovery, aided by easing inflation, a full revival still seems to be some time away. Besides, consumption patterns and preferences are rapidly evolving in India, where an influx of digital-first brands and the rise of new online channels like quick commerce are changing the way people consume and shop, nudging legacy brands to innovate faster.

Traditional FMCG companies such as HUL have made acquisitions in the new-age D2C space to pivot their portfolio to cater better to consumers. HUL, which gets a bigger share of business from the urban markets, reported a marginal 2% year-on-year growth in total sales in the March quarter on a standalone basis.

Nair, an alumnus of Sydenham College and Symbiosis Institute of Business Management, Pune, joined HUL in 1995, rising up the ranks to become executive director, home care, HUL, between 2014 and 2020, and thereafter, executive director, beauty & personal care, HUL, from 2020 to 2022. Subsequently, she went on to become the global chief marketing officer, beauty & wellbeing at Unilever and since 2023, has been president, beauty & wellbeing, one of Unilever's fastest-growing businesses.

Nair, who led brands like Dove, Rin, and Comfort, is credited with turning around the home care business in India and delivering business transformation through premiumisation, digital commerce, and purpose-led innovation. Premiumisation has been a core focus area for HUL in recent years as it taps into rising consumer aspirations fueled by higher disposable incomes.

"Priya has had an outstanding career in HUL and Unilever... With her deep understanding of the Indian market and excellent track record, Priya will take HUL to the next level of performance," HUL chairman Nitin Paranjpe said.

Jawa, who took over as CEO at 56 in April 2023, had a 37-year stint at HUL and Unilever across various roles. Under Jawa, HUL delivered a volume-led competitive growth. Jawa introduced the 'Aspire' strategy, which is driving the business to transform portfolio and channels towards high-growth demand spaces. On Jawa's watch, HUL shares fell 6% compared to a 41% jump in the sensex, Bloomberg reported.

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