Niranjan Gupta, former CEO of Hero MotoCorp, has been appointed to the CFO position at HUL

Having spent two decades in various roles at Unilever, Gupta returns to the FMCG giant after an 11-year absence.

FMCG leader Hindustan Unilever Limited (HUL) announced on Thursday that it has chosen Niranjan Gupta, the former CEO of Hero MotoCorp, to take on the role of Chief Financial Officer, succeeding Ritesh Tiwari, starting September 1. Gupta will work under the supervision of HUL's Managing Director and CEO, Priya Nair. 

"I am thrilled to have Niranjan rejoin Hindustan Unilever, and I believe he will be crucial in guiding the company into its next growth phase,” said Nair in a statement.

Notably, Gupta’s career commenced at Hindustan Unilever, where he dedicated two decades to various roles. After leaving Unilever, he spent three years at Vedanta Limited before becoming the CFO of Hero MotoCorp in 2017. In 2023, he was promoted to CEO of Hero MotoCorp, succeeding Pawan Munjal who moved into an executive chairman position.

While he was at the helm as CEO, Hero MotoCorp, the largest manufacturer of two-wheelers globally, reestablished its collaboration with Harley-Davidson to design new motorcycles for the Indian market and launched further versions of the Harley-Davidson X440, the first product resulting from their partnership that originated in 2020. 

Gupta also played a key role in Hero MotoCorp's initial venture into electric two-wheelers under the Vida brand. In January of this year, he stepped down to explore other opportunities.

Meanwhile, Tiwari has been appointed as the global head of M&A and Treasury for Unilever, starting November 1, with his base in London. He took on the roles of executive director and CFO of HUL in 2021. The company noted that Tiwari led HUL through the challenges of the Covid-19 era, “ensuring continuous growth while safeguarding the financial growth model.” 

Nair acknowledged Tiwari’s leadership in HUL's ‘portfolio transformation efforts, directing resources to high-growth sectors that resulted in significant market share increases.’ “His promotion to the global role further highlights HUL’s solid leadership development,” Nair commented in her statement.

The announcement indicated that Tiwari was also instrumental in driving “competitive volume-led growth despite unpredictable market conditions,” investing capital in line with HUL’s strategic goals. 

HUL recognizes Tiwari for making the company “future-ready” through substantial partnerships, acquisitions, and divestitures, including the recent separation of the ice cream business into Kwality Walls (India) Limited, a strategic step toward its independent listing.

This appointment occurs shortly after a major transition at HUL, where Rohit Jawa, the former CEO and MD, resigned from the company two years following his appointment. He was succeeded by Priya Nair, marking her as the first woman to lead the prestigious FMCG company.

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