FMCG major Hindustan Unilever Ltd (HUL) stated that its board of directors has established an Independent Committee to evaluate the future of its ice cream business, according to CNBC-TV18.
The company has formed a committee of independent directors to assess the future of its ice cream business.
Unilever PLC announced plans to separate its global ice cream operations in March 2024. In response to this, HUL’s leadership discussed strategic options for its ice cream business during a board meeting on September 6, 2024.
The board formed a committee of independent directors to explore various alternatives for the ice cream business and provide recommendations. These recommendations will be reviewed by both the Audit Committee and the Board.
“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 announced in accordance with SEBI regulations and other relevant laws. This restructuring could significantly impact HUL’s ice cream business operations.