Ahead of HUL separation, Kwality Wall’s India installs new board

Kwality Wall’s (India) has constituted a seven-member board as it prepares to demerge from Hindustan Unilever, marking a key step in its transition to an independent listed company.

Business Standard reported that the new board comprises one non-executive director, two executive directors and four independent directors. The appointments were confirmed in a late Sunday stock exchange filing.

Chitrank Goel has been named deputy managing director and executive director, while Prashant Premrajka becomes chief financial officer. Both executives have more than two decades of experience in the consumer goods sector, a background the company said would support its next phase of expansion.

The list of independent directors includes Ravi Pisharody, Madhavan Hariharan, JV Raman and Shukla Wassan. Ritesh Tiwari, who serves as global head of M&A, treasury and ventures at Unilever PLC, has joined as non-executive director.

Hindustan Unilever said in its filing that the newly formed board “brings together seasoned corporate leaders with extensive experience across consumer goods, finance, governance, regulatory affairs, risk management and strategic mergers and acquisitions”. It added that the board would guide KWIL as it begins operations as a standalone entity.

The demerger will take effect on 1 December, establishing Kwality Wall’s India as an independent company with its own leadership and governance structure. HUL described the brand as one of India’s most recognised ice cream businesses, supported by a strong heritage and extensive distribution network.

In a separate investor presentation, the company highlighted favourable market dynamics. Kwality Wall’s said India’s ice cream segment is valued at about $2.6 billion, projected to expand at 11 per cent annually and reach $4.4 billion by 2030. It pointed to rising snacking demand, category tailwinds and the potential to scale through new formats, technology and global brand access.

The company noted a margin-improvement programme designed to reinvest in growth. It already operates three global brands in India and said it has access to introduce three more — Ben & Jerry’s, Viennetta and Yasso — as part of its product expansion strategy.

With the board now in place, the newly independent Kwality Wall’s India is expected to sharpen its portfolio, accelerate distribution gains and compete more aggressively in the fast-growing frozen desserts market.