Hindustan Unilever (HUL), one of the leading FMCG players in India, has constituted a committee comprising its Independent Directors to evaluate its ice cream business’ prospects as a new vertical.
Announcing the same in a regulatory filing, the company mentioned, “After due consideration, the Board has decided to constitute a committee of Independent Directors of the Company to evaluate in detail the prospects of the Company’s Ice Cream business and to make recommendations to the Board on the best way forward, keeping in mind the interest of all our stakeholders.”
“Necessary announcements and disclosures per the SEBI Listing Regulations and other applicable laws will be made post-consideration of the matter by the Board,” it added.
As a result, the newly formed committee will analyse and recommend the most suitable business-way forward to run its ice-cream business, globally. These considerations will then be forwarded to the Audit Committee and the Board of Directors at their respective meetings.
This new committee formation comes in the aftermath of Unilever expressing its intention to separate its global ice cream business across jurisdictions earlier this year.
HUL has its products spread across sectors including- beauty and wellness, home care, and more. The company owns three ice cream brands in India- Magnum, Kwality Walls, and Cornetto. The FMCG player had earlier decided to demerge its €7.9 billion ice cream unit by the end of 2025.
