HUL CFO Ritesh Tiwari likely to step down, shift to a global role

Mumbai, July 11, 2025 — In a significant management reshuffle that could impact Hindustan Unilever Ltd (HUL), the company’s Chief Financial Officer (CFO), Ritesh Tiwari, is likely to step down from his current role and assume a global position within Unilever, sources familiar with the matter told media outlets on Thursday.

The move, though yet to be officially confirmed by HUL, underscores Unilever’s continued focus on rotating high-performing leaders across global portfolios, in line with its talent mobility and leadership development strategy. If finalized, Tiwari’s exit would mark another high-profile leadership change at India’s largest fast-moving consumer goods (FMCG) firm.

Background and Career Trajectory

Ritesh Tiwari has been with Unilever for nearly three decades, having joined the group in 1999. He took over as HUL’s CFO in July 2020, succeeding Srinivas Phatak, and has since been instrumental in steering the company through turbulent periods, including the COVID-19 pandemic and the subsequent inflationary cycles.

A seasoned finance professional, Tiwari also holds the position of Vice President, Finance for Unilever South Asia, making him a key contributor to the group’s regional and global strategic financial initiatives. His next role is expected to leverage this experience in a broader, possibly global capacity, although details of the exact designation are still under wraps.

Leadership Change Amid Market Dynamics

HUL, a subsidiary of the Anglo-Dutch consumer goods giant Unilever, is at a critical juncture. While it has managed to hold market leadership across segments like personal care, home care, and foods, the broader FMCG industry in India is grappling with fluctuating rural demand, changing consumer behavior, and increasing competition from D2C (direct-to-consumer) brands.

A leadership transition, especially in the CFO's office, could bring short-term uncertainties but is unlikely to disrupt the company’s long-term strategic direction, say analysts.

“Ritesh Tiwari has been a steady hand at the financial helm of HUL during a very volatile macroeconomic phase. His departure, while significant, is part of a structured leadership development pipeline that Unilever is known for globally,” said Abneesh Roy, Executive Director at Nuvama Institutional Equities.

Investor and Analyst Reactions

Following reports of Tiwari’s potential transition, HUL shares were largely stable, ending marginally down by 0.3% at ₹2,658 on the NSE on Thursday. Market watchers attributed the muted reaction to investor confidence in Unilever’s strong internal succession planning.

“HUL’s corporate governance and bench strength are among the best in class. Investors typically don’t worry about one-off leadership exits unless accompanied by operational slippages, which is not the case here,” said Mehul Desai, Senior Analyst at Axis Securities.

Most analysts believe the impact of Tiwari’s exit will be minimal if a smooth transition is ensured. “We expect a strong internal candidate or a seasoned leader within Unilever to step into the CFO role. The company has managed such transitions seamlessly in the past,” Desai added.

Succession Speculations and Next Steps

While no official announcement has been made by HUL, reports suggest that the company may announce a successor within the next few weeks. Names of a few senior finance executives within the Unilever ecosystem are being speculated as front-runners.

The succession, if announced soon, may coincide with the company’s Q1 FY26 results later this month. Analysts believe the earnings call might provide additional commentary from management on the leadership transition.

Tiwari’s next role is expected to be located at Unilever’s global headquarters in London or in a key emerging market hub, where he may take on broader financial strategy responsibilities.

Broader Implications for HUL and Unilever

Leadership mobility has long been a hallmark of Unilever’s global operations. Executives who have held key roles in HUL have frequently transitioned to global roles, reflecting both the company’s integrated talent management framework and the strategic importance of the Indian market.

Past examples include Sanjiv Mehta, who became President of Unilever South Asia before eventually retiring in 2023, and Nitin Paranjpe, who held global COO responsibilities after a stint as HUL’s CEO.

Tiwari’s elevation to a global role continues this trend and further cements India’s reputation as a critical talent base for the FMCG major.

Outlook for Investors

From an investor perspective, the transition is not expected to alter HUL’s strategic direction. The company remains focused on volume-led growth, digital transformation, sustainability, and category expansion.

However, investors will closely watch for two key elements: the identity and credentials of Tiwari’s successor, and the commentary from management in upcoming investor calls to assess continuity in financial discipline and capital allocation strategy.

For now, analysts maintain a “Buy” or “Hold” rating on the stock, with long-term growth expectations remaining intact.