Deepak Parekh resigns from HUL board
28 Dec 2011
Deepak Parekh, an independent director with Hindustan Unilever Ltd, has resigned from the company's board after more than 14 years of tenure.
Parekh left its board citing personal reasons, including his other commitments, HUL said in a filing with the Bombay Stock Exchange (BSE).
Parekh, better known as chairman of HDFC Ltd, was also on the board of HUL as an independent director since 1997. He was also the chairman of HUL's audit committee, the company said.
The resignation is effective 27 December 2011, it added.
"Parekh during his long tenure lasting more than 14 years as an independent director, made significant contribution to the company and has now chosen to step down given several other commitments that he has," HUL said in its filing.
HUL has TCS vice chairman S Ramadorai, former director-general of CSIR and noted scientist R A Mashelkar and A Narayan as its other independent directors.