HUL Establishes Committee To Assess Future Of Its Ice Cream Division
The final decision on the matter will be reported following SEBI regulations and other relevant laws
According to an industry report, FMCG giant Hindustan Unilever (HUL) has notified that its board of directors have formed an independent committee to assess the company's ice cream business's future.
A group of independent directors has been appointed by the corporation to evaluate the prospects of its ice cream division.
In March 2024, Unilever PLC revealed that it would split its international ice cream business. In response, on September 6, 2024, at a board meeting, HUL's leadership talked about strategic possibilities for its ice cream company.
A group of independent directors was established by the board to investigate and offer suggestions regarding several options for the ice cream industry. The board and the audit committee will jointly evaluate these proposals.
"The board also accorded its approval to explore potential structures and alternatives for the same. Based on the recommendation of the Independent Committee, the matter will be placed for final consideration of the Audit Committee and the Board at their respective meetings to be scheduled in due course," as per the FMCG major.
The final decision on the matter will be reported following SEBI regulations and other relevant laws. This restructuring could significantly impact HUL's ice cream business operations.
