Hindustan Unilever Ltd. announced on Thursday the appointment of Niranjan Gupta as its next chief financial officer.
Gupta is set to succeed Ritesh Tiwari and his appointment will be effective Nov. 1. Gupta will also be a member of the HUL Management Committee as CFO Designate, effective Sept. 1, 2025, according to an exchange filing.
Gupta had begun his career with HUL, spending two decades in various leadership roles within the company before moving on. Following his time at HUL, he worked at Vedanta for three years before joining Hero MotoCorp in 2017 as CFO. He was promoted to CEO in 2023. At Hero MotoCorp,
Ritesh Tiwari, who has served as HUL’s Executive Director, Finance, and CFO since 2021, will be stepping into a new global role as the Global Head of M&A and Treasury at Unilever Plc. based in London.
During his tenure at HUL, Tiwari played a crucial role in guiding the company through the COVID-19 pandemic, as per a press release. He focused on a portfolio transformation, reallocating capital to high-growth areas, which led to significant market share gains.
Tiwari also spearheaded key acquisitions, disposals, and partnerships that helped to sharpen the company’s portfolio. Most recently, he oversaw the demerger of the Ice Cream business into Kwality Walls (India) Ltd., paving the way for its independent listing.
Priya Nair, HUL’s Chief Executive Officer and Managing Director, said “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.”
“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,” she added.
Shares of HUL closed 1.12% lower at Rs 2,648 apiece on the NSE, as compared to a 0.13% rise in the benchmark NSE Nifty 50.
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