Kwality Walls (India) Limited (KWIL), a leading ice cream and frozen desserts company in India, has announced the formation of its Board of Directors as it prepares for its demerger from Hindustan Unilever Limited (HUL). The strategic move, set to take effect on December 1, 2025, marks a significant milestone for KWIL as it transitions into an independent listed entity.

Board Composition

The newly constituted board comprises seven members, bringing together a diverse mix of experience and expertise. Here's a breakdown of the appointments:

Key Appointments

Executive Directors

1. Chitranj Goel: Appointed as Deputy Managing Director
2. Prashant Premrajka: Appointed as Chief Financial Officer (CFO)

Non-Executive Director

• Ritesh Tiwari: Currently serves as the Global Head of M&A, Treasury and Ventures at Unilever PLC

Independent Directors

• Ravi Pisharody
• Madhavan Hariharan
• JV Raman
• Shukla Wassan

Strategic Implications

The formation of this board is a crucial step in KWIL's journey towards becoming an independent entity. By bringing together seasoned professionals with diverse backgrounds in consumer goods, finance, governance, and strategic management, KWIL is positioning itself for focused growth in the ice cream market.

About Kwality Walls (India) Limited

KWIL is known for its portfolio of ice cream brands, including Kwality Walls, Magnum, and Cornetto. The company's demerger from Hindustan Unilever is expected to allow for more focused operations and quicker response to market dynamics in the ice cream category.

Effective Date

The new board structure and KWIL's independent operations are set to commence on December 1, 2025. Following this, the company is expected to be listed on India's major stock exchanges, although the exact listing date has not been disclosed.

This strategic restructuring sets the stage for KWIL to leverage its brand presence and distribution network as a standalone entity in India's ice cream market.

Hindustan Unilever Limited (HUL) has announced significant developments in its demerger scheme with Kwality Wall's (India) Limited (KWIL). The company has set key dates for the implementation of the scheme and made important board appointments.

Scheme Implementation Timeline

HUL's Board of Directors has confirmed that the Scheme of Arrangement between HUL and KWIL will become effective from December 1, 2025. This date marks the first calendar day of the month following the completion of all conditions specified in Clause 20 of the Scheme.

Key dates for the demerger process include:

The Record Date is set for determining eligible HUL shareholders who will receive KWIL shares. The share entitlement ratio is 1:1, meaning shareholders will receive one equity share of KWIL (face value Re. 1) for every one equity share held in HUL (face value Re. 1).

Board Appointments and Changes

In addition to the demerger updates, HUL has made significant changes to its board:

1. Ritesh Tiwari: Appointed as an Additional Non-Executive Director of KWIL, effective November 17, 2025. Mr. Tiwari, currently the Global Head M&A, Treasury and Ventures of Unilever PLC, brings extensive experience in finance leadership across global markets.

2. Bobby Parikh: Appointed as an Independent Director on HUL's Board for a five-year term, from December 1, 2025, to November 30, 2030. Mr. Parikh will also serve as the Chairman of the Risk Management Committee and a member of the Audit Committee.

Expert Commentary

Nitin Paranjpe, Non-Executive Chairman of HUL, commented on Bobby Parikh's appointment: "We are delighted to welcome Bobby to the HUL Board as an Independent Director. His experience, combined with expertise in financial strategy and regulatory frameworks, has helped organisations steer complex transformative business changes. We look forward to his insights and contributions in the Company's next phase of growth."

Mr. Parikh expressed his thoughts on joining HUL's board: "It is an honour to join the Board of Hindustan Unilever Limited, a company that has set benchmarks in corporate governance and responsible business. I look forward to working with my fellow Board members and the leadership team to help steer HUL through new opportunities and challenges."

These developments signify HUL's strategic moves in restructuring its business and strengthening its governance structure as it prepares for the next phase of growth in the Indian market.