Sanjiv Mehta says 31 years with Unilever 'most exhilarating ride'

New Delhi: Terming his 31 years' association with the Anglo-Dutch FMCG major Unilever as the "most exhilarating ride", outgoing HUL MD & CEO Sanjiv Mehta on Friday said it has been an "honour of a lifetime" to serve its business in South Asia for a decade.

Mehta, who will hang up his boots after the conclusion of HUL's AGM on June 26, 2023, dubbed Unilever as "not just another company but an institution where values and purpose are centre stage. It is a beacon of diversity and inclusion." 

"It has been one of the longest tenures in the illustrious history of Hindustan Unilever," Mehta said in a LinkedIn post on Friday, hours after the FMCG major announced a change in the leadership of its India business.

Earlier in the day, HUL announced the appointment of Rohit Jawa as the Managing Director & Chief Executive Officer to succeed Mehta who will retire from the company.

Jawa, presently the Chief of Transformation for Unilever, would take over the leadership role for a term of five consecutive years with effect from June 27, 2023, after the conclusion of the AGM.

"It has been the most exhilarating ride of 31 years of which for 21 years I have had the privilege of serving Unilever's businesses in 25 countries in various parts of the world as the CEO," Mehta said.

Further, he said that serving Unilever's business in South Asia, including Hindustan Unilever as the CEO/ Executive Chairman/ President for the last ten years, has been an honour of a lifetime.

"I also had the privilege of being the first incumbent CEO of HUL to be on the Executive Board (Unilever Leadership Executive) of Unilever," he added.

Terming Unilever as a "beacon of diversity and inclusion", Mehta said it is a company where creating a positive impact on the environment and society is as integral as building a brand.

"It is a company with perhaps the largest footprint in the world whose brands are available in more countries than the members of the United Nations," he said in the message.

During his tenure, 4 billion euros (Rs 32,000 crore) was added to the company's turnover, increasing it by 2.3 times in last 10 years.

"The market capitalisation increased by 5X to over $70 billion which is more than the market cap of many global FMCG companies including Kraft Heinz, Reckitt Benckiser, General Mills, Colgate and many more. Just the market cap increase in the last 10 years would have made HUL the 10th most valuable company in the country," he said.

It is not just the numbers but the capabilities were also built to reinvent the company and took the science and art of Market Development to a new level altogether.

"Today, these new segments constitute over 20 per cent of our turnover," he said, adding, "from a linear value chain, HUL is becoming a web of ecosystems. Our purpose-driven brands have changed behaviours at scale and are a great example of being a force for good".

He also thanked teams in the Philippines, North Africa & the Middle East and in South Asia and India, with whom he has worked.

Mehta has led Unilever in markets such as Bangladesh, Philippines, and NAME (North Africa and Middle East) before joining HUL in October 2013 as CEO & MD. Later in July 2018, he became Chairman & Managing Director of HUL.

Though Mehta has not shared about his plan after retirement, he said he is "excitedly looking forward" to his next innings.

While quoting Robert Frost's famous lines "Miles to go before I sleep", Mehta said he will meet many of his team members in different locations to thank them and give them a big hug.