MAM
HUL’s Paranjpe to move up, Sanjiv Mehta is the new CEO
MUMBAI: The Rs 25,000 crore FMCG major Hindustan Unilever has elevated its managing director and CEO Nitin Paranjpe as the global head of parent company Unilever‘s home care business.
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HUL MD and CEO Nitin Paranjpe
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From 1 October, company‘s current Middle-East and North Africa operation head Sanjiv Mehta will replace Paranjpe as HUL MD. Mehta will also be responsible for south Asia cluster which includes India, Pakistan, Sri Lanka, Bangladesh and Nepal. However, the appointment of Mehta will be subject to approval of shareholders.
Paranjpe will join the leadership executive team and will report directly to global CEO Paul Polman.
Announcing the management changes, HUL chairman Harish Manwani said “The changes reflect our strong commitment towards leadership development and our tradition of leveraging experiences and synergies of talent across markets.”
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HUL chairman Harish Manwani
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Welcoming Mehta as the new CEO, Manwani added, “Sanjiv brings with him rich experience of successfully leading businesses across developing and emerging markets. I am confident that he will further build on the growth momentum and drive the company‘s agenda of competitive, consistent, profitable and responsible growth.”
HUL, which employs over 16,000 people in India, markets various brands including Lux, Lifebuoy, Surf Excel and Pepsodent. They contribute six-seven per cent to Unilever‘s turnover which recently pumped Rs 19,180 crore through an open offer to increase its stake to 67 per cent in the company.
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
