Hindustan Unilever Ltd (HUL) has formed an independent committee to evaluate the future of its ice cream business after its parent company, Unilever PLC, announced plans for a global separation of the ice cream division. The committee will assess the prospects and make recommendations to the board for the best course of action
Hindustan Unilever Ltd (HUL) is one of India’s leading Fast-Moving Consumer Goods (FMCG) companies, with a diverse portfolio of brands across beauty, personal care, home care, and food products. As a subsidiary of Unilever PLC, a global company operating in more than 190 countries, HUL’s ice cream business has been a key contributor to its success in the Indian market.
On September 7, 2024, HUL announced the formation of a committee consisting of independent directors to evaluate the future of its ice cream business. This decision comes in response to an earlier announcement by Unilever PLC, which revealed plans to separate its global ice cream operations as part of its strategic growth initiative.
The committee will assess the prospects of HUL’s ice cream division and provide recommendations to the board. The final decision will be made following reviews by the Audit Committee and the Board, taking into account the interests of all stakeholders.
Unilever’s Global Strategy
In March 2024, Unilever PLC announced plans to separate its ice cream business to streamline operations and accelerate growth. The company is considering several options, with a demerger being the most likely outcome. Full separation of the ice cream business is expected by the end of 2025.
Unilever’s Chair, Ian Meakins, expressed confidence that this move will create a more focused and high-performing Unilever while positioning the ice cream business for strong growth as a standalone entity.
