MAM
HUL reshuffles Board of Directors
MUMBAI: The biggest Indian consumer goods company, Hindustan Unilever Limited (HUL) has announced the appointment of Sridhar Ramamurthy, presently, executive director Finance & IT and CFO of HUL, as senior vice president Finance for the Global Markets.
He will be part of the Global Markets Executive of Unilever and based in London.
The present Unilever Americas Supply Chain Company Finance vice president PB Balaji will succeed Sridhar as executive director Finance & IT and CFO of HUL. He will join the Board of Directors of HUL and will be part of the Management Committee of HUL.
The appointment was approved by the Board of Directors of HUL, today, after the Nomination & Remuneration Committee recommended his name to the Board. The appointment approved by the Board is subject to such statutory approvals as may be applicable.
Balaji had joined HUL in May 1993 and has worked in different roles in the company. Prior to moving to Unilever in 2011, Balaji was HUL Home & Personnel Care business Finance VP.
The changes are effective from July 1, 2014.
The Board places on record its appreciation for the contribution made by Sridhar Ramamurthy.
Brands
Samsung India mobile chief quits after 18 years
Raju Antony Pullan’s exit leaves a gaping hole at the top as Chinese rivals tighten their grip
GURGAON: Raju Antony Pullan has had enough. The senior vice-president and head of Samsung India’s mobile phone business has put in his papers after 18 years at the Korean giant, a tenure long enough to have watched the company stride to the top of India’s smartphone market and then stumble, badly, as Chinese upstarts muscled in.
Pullan, who ran sales, marketing and every last function of the smartphone business, tendered his resignation on Thursday and is currently serving out his notice period. Samsung has not named a successor. It has a second line of leadership waiting in the wings, Aditya Babbar and Hiren Rathod among them, but no decision has been made on who steps up.
The timing is awkward. Samsung has been haemorrhaging market share to Chinese brands and now clings to a top-two position only in the premium segment, where it scraps it out with Apple. Losing the man who stewarded the mobile business through its best and worst years hardly helps steady the ship.
A company that once owned India’s smartphone market is now fighting to stay relevant in it. Pullan’s departure is less a footnote than a flashing red light.
