MUMBAI: Unilever, the British parent company of FMCG giant Hindustan Lever announced changes to its board. The company is ready to propose three new non-executive directors for election at the Annual General Meetings in Rotterdam on 15 May and in London on 16 May.
Unilever, in an official statement also said that Infosys Technologies Limited co-founder and Chairman Narayana Murthy will be on the board as a non executive member. Murthy who has led key corporate governance initiatives in India is also a member of the Asia Pacific Advisory Board of BT Group Plc. The other two non executive board members include Genevieve Berger professor of Biophysics and Medical Imaging at Paris University and Hixonia Nyasulu, who also serves as a non-executive director of Sasol Limited and Anglo Platinum and an Advisory Board Member of JP Morgan South Africa.
Chairman of the Nomination Committee Lord Simon said, "Unilever is delighted with these outstanding candidates as they further strengthen the expertise and independence of the Board and, of course, bring diversity of background and experience".
Unilver chief financial officer Rudy Markham will retire at the Annual General Meeting in May 2007. Markham joined the Board in 1998 as strategy and technology director becoming chief financial officer in 2000. His successor will be announced in due course.
Another retirment on cards is Unilever's non-executive director and chairman of the corporate responsibility and reputation committee Lynda Chalker. She will be retiring on May 2007 having served three terms of three years. Chalker joined the Board as an advisory director in 1998 becoming a non-executive director in 2004.
Unilever previously announced in January that Michael Treschow will succeed Antony Burgmans as Chairman, following his election to the Board.
Antony Burgmans said, "I would also like to thank Lynda for her wise counsel, particularly her expert knowledge of issues in developing markets. I would also like to welcome Genevieve Berger, Narayana Murthy and Hixonia Nyasulu to the Board. Together their experience and background will be of enormous value to the business."
Unilever requires all Directors to offer themselves for re-election at the Annual General Meeting each year. The following Directors will be offering themselves for re-election- Leon Brittan, Patrick Cescau, Wim Dik, Charles Golden, Kees van der Graaf, Byron Grote, Ralph Kugler, David Simon, Jean-Cyril Spinetta, Kees Storm and Jeroen van der Veer.
