MUMBAI: India's largest FMCG company Hindustan Lever on Friday said it has received shareholders' approval for changing its name to Hindustan Unilever.
The Annual General Body (AGM) meeting of Hindustan Lever Ltd (HLL) on May 18 passed the resolution entailing the change of its name to Hindustan Unilever Ltd (HUL), the company said in a communique to the Bombay Stock Exchange.
Earlier in February, HLL said that the proposed name change would provide the optimum balance between maintaining the heritage of HLL and the future benefits and synergies of global alignment with the corporate name of Unilever.
"The name change is a significant milestone. It retains the company's continued commitment toward its local roots while leveraging the global scale and reputation of Unilever with its consumers and other stakeholders in India." HLL Chairman and Unilever Asia AMET (Africa, Middle East and Turkey) President Harish Manwani had said.
Hindustan Lever is FMCG giant Unilever's main operating business in India.
Unilever set up its first Indian subsidiary Hindustan Vanaspati Manufacturing Company in 1931, followed by Lever Brothers India Limited (1933) and United Traders Limited (1935). These three companies merged to form HLL in November 1956.
The shares of HLL were last trading 1.09 per cent up at Rs 203.45 on the BSE.
Source : http://www.dnaindia.com/report.asp?newsid=1099081
The Annual General Body (AGM) meeting of Hindustan Lever Ltd (HLL) on May 18 passed the resolution entailing the change of its name to Hindustan Unilever Ltd (HUL), the company said in a communique to the Bombay Stock Exchange.
Earlier in February, HLL said that the proposed name change would provide the optimum balance between maintaining the heritage of HLL and the future benefits and synergies of global alignment with the corporate name of Unilever.
"The name change is a significant milestone. It retains the company's continued commitment toward its local roots while leveraging the global scale and reputation of Unilever with its consumers and other stakeholders in India." HLL Chairman and Unilever Asia AMET (Africa, Middle East and Turkey) President Harish Manwani had said.
Hindustan Lever is FMCG giant Unilever's main operating business in India.
Unilever set up its first Indian subsidiary Hindustan Vanaspati Manufacturing Company in 1931, followed by Lever Brothers India Limited (1933) and United Traders Limited (1935). These three companies merged to form HLL in November 1956.
The shares of HLL were last trading 1.09 per cent up at Rs 203.45 on the BSE.
Source : http://www.dnaindia.com/report.asp?newsid=1099081