Mumbai: M S Banga, chairman of Hindustan Lever, demitted office on Friday, to take charge of Unilever's global foods businesses, after a five-year tenure marked by extensive business restructuring, which led to the company exiting businesses and moving out of several brands.

In his last address to the shareholders at HLL's 72nd AGM, Unilever, Banga spoke brightly about the company's future prospects, pointing out the signs of revival in the core FMCG business and benefits accruing from the restructuring.

 He was sharing the dais with Harish Manwani, HLL's newly appointed chairman, who inherits a leaner organisation.

He said the credit for taking the initiative to cutting prices to nudge the industry back to the growth path was entirely HLL's He spoke about reinventing distribution, the opportunity in manufactured exports and the supply chain for agricultural products.