Hindustan Lever Ltd is expected to announce a top-level reshuffle on Friday, the first since Harish Manwani took over as the company's non-executive chairman in June this year.
While Manwani will continue as non-executive chairman, sources close to the developments said one of the options being considered was to make changes at the level of managing directors. Instead of two managing directors for Indian operations, the multinational may opt for only one.
The second managing director may get an overseas assignment with Unilever. If that happens, Arun Adhikari, managing director, home and personal care, may remain in India with a larger responsibility while S Ravindranath, managing director, foods, may look after overseas affairs.
However, the exact nature of the reshuffle cannot be confirmed. HLL executives declined to comment but said there would be some big announcements tomorrow.
An HLL spokesperson only said the company would inform the stock exchanges about some "major developments" tomorrow, following which Manwani would brief the media.
"All we can say is that Manwani will continue as non-executive chairman. Media speculation about an executive chairman is incorrect," an HLL executive said.
Adhikari, as the head of home and personal care, is responsible for almost 70 per cent of the group's business in India.
Apart from the two managing directors, the rest of the national management council at HLL consists of MK Sharma, vice chairman, and D Sundaram, director, finance and information technology.
The board of directors includes national management council members A Narayan, V Narayan, DS Parekh, CK Prahalad and S Ramadorai.
Earlier this year, Manwani who is also president, home and personal care, Unilever Asia and Africa, took over as non-executive chairman.
MS Banga was made president (foods) in Unilever in May this year.
HLL had moved away from the executive chairman system when it announced the restructuring of its board of directors headed by Banga in May 2004.
Since then, the board has had a non-executive chairman, two managing directors, a finance director and a vice-chairman apart from five other directors.
Prior to that, the HLL management committee had 13 members looking after five business units -- detergents, personal care, foods, beverages and ice-cream.
As part of the restructuring, these were reduced to two divisions -- foods and home and personal care.
