Hindustan Unilever Shares Surge 5% As Priya Nair Takes Over As CEO, Analysts See A New Chapter Unfolding

Shares of fast moving consumer bellwether, Hindustan Unilever soared 5% on July 11 after the company announced a change of guard, with Priya Nair taking over as the new MD and CEO, replacing the current chief Rohit Jawa, starting August 1.

Hindustan Unilever announced the appointment of Priya Nair as its new Chief Executive Officer and Managing Director, making her the first woman to lead the FMCG giant in its 92-year history. She is currently President, Beauty & Wellbeing, Unilever.

In an exchange filing, the FMCG major said that she replaces Rohit Jawa, who will step down as CEO and MD on July 31, 2025 to pursue the next chapter in his personal and professional journey.

Nomura noted that the handover to a veteran with three decades of experience across HUL’s home and personal care segments bodes well for the business. “A new ball, new court, new game,” the brokerage said, signalling optimism over a fresh chapter in HUL’s growth story. The firm believes Nair’s appointment brings the necessary momentum to navigate competitive challenges, deepen the company’s digital transformation, and seize the long-term opportunities within India’s evolving consumer market.

JPMorgan echoed this view, pointing to Nair’s deep understanding of the domestic landscape and her track record in driving volume growth as key positives. The brokerage expects her leadership to align well with HUL’s push for innovation and efficiency.

Over the past two years, HUL’s performance has been muted, with volume, revenue, and earnings growth hovering around 2–3%, constrained by macroeconomic headwinds and increased competition from new and direct-to-consumer (D2C) brands.

Despite this, Unilever’s global CEO Fernando Fernandez reaffirmed India’s importance as one of the company’s two anchor markets during the Q1 2025 investor call, reinforcing the strategic goal to ‘double down in India,’ a key theme from its November 2024 investor day.

Seen in that light, Nomura described the leadership change as a signal of Unilever’s commitment to accelerating India’s performance. The brokerage maintains a ‘Buy’ rating on HUL with a price target of ₹2,600, citing improved growth prospects and attractive valuations, as the stock currently trades below its 5-year and 10-year average P/E multiples.

Citi Research highlighted that leadership transitions in India’s consumer space have historically driven both stock re-ratings and stronger operational performance, as seen recently with Godrej Consumer and Colgate India.

While Citi and Investec noted the timing of Rohit Jawa’s early departure came as a surprise, Macquarie downplayed any concerns, stating that Nair’s long-standing tenure with Unilever India is reassuring. The brokerage expects her leadership to sharpen HUL’s focus on growth, particularly in the beauty and personal care segment.