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FMCG major Hindustan Unilever Ltd (Ltd) on Thursday announced key changes to its top management, naming Niranjan Gupta as its next CFO after Ritesh Tiwari. The company appointed Gupta as CFO-designate and member of its management committee, with effect from September 1. He will take over from Tiwari as Executive Director-Finance and CFO and also join the company's board with effect from November 1. 

Gupta will report to HUL CEO and MD Priya Nair.

Tiwari is appointed the global head of M&A and treasury at HUL parent Unilever Plc, with effect from November 1. He will be based out of London. 

“I would like to thank Ritesh for his future-focused leadership and invaluable contribution to HUL. He led our portfolio transformation efforts, aligning resources to high-growth areas resulting in strong market share gains. His elevation to the global role is yet another testament to HUL’s strong leadership pipeline," said Priya Nair, CEO and MD, HUL.

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"I am pleased to welcome Niranjan back to Hindustan Unilever and I am confident that he will play a pivotal role in steering the company towards its next phase of growth," added Nair. 

Gupta began his career with HUL, where he would spend the next 20 years across several leadership roles. A seasoned business leader, Gupta brings strong experience across finance, M&As, supply chain, and strategic roles in diverse industries, according to HUL. 

After his stint with HUL, he spent three-years at Vedanta Ltd. He was elevated as CEO at Hero MotoCorp in 2023, having joined the auto giant as CFO  in 2017.

ALSO READ: Goldman Sachs upgrades HUL to ‘buy’ 

Tiwari took over as Executive Director-Finance and CFO of HUL in 2021. He helped in steering the company through the pandemic, ensuring sustained growth while protecting the financial growth model. He allocated capital in line with the company’s strategic priorities to drive competitive volume led growth amid volatile market conditions.

He led key acquisitions, disposals and partnerships that have helped in sharpening the portfolio and making HUL future-ready, said the FMCG major. 

ALSO READ: HUL Q1 profit misses Street estimates

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