Breaking The Glass Ceiling Like Priya Nair
When Priya Nair took over as Hindustan Unilever (HUL)‘s CEO in August, she became the first woman ever to lead the company in its 92-year history. HUL shares rose 4%, which reflected Dalal Street’s confidence in her leadership.
HUL, as India’s largest FMCG company and consumer bellwether, is at a critical juncture. Volume growth in the sector has slowed due to deceleration in the food and beverage segment, according to a report by consumer data company Worldpanel by Numerator. And there is growing competition from regional players, online direct-to-consumer brands as well as multinational companies.
Priya’s skills will be put to the test as she steers the company through these challenges. But she certainly has the experience required to lead. After beginning her career at HUL as a consumer insights manager in 1995, she steadily rose up the ranks, taking on roles in beauty and personal care, homecare, and global markets. Her mobile marketing campaign ‘Kan Khajura Tesan’ won three Gold Lions at Cannes in 2014.
With a deep understanding of the Indian consumer and brand strategy, she’s expected to focus on the company’s digital transformation, sustainability, and innovation.
The leadership rejig is not a symbolic gesture; it banks on her expertise to help the company be future-ready and on the growth path.
Priya takes on the mantle at a time when women are still underrepresented and hold less than 20% C-suite positions in India, according to a McKinsey report. The reasons behind this are higher attrition, limited hiring at senior levels, and fewer promotion opportunities, the report suggests.
She follows in the footsteps of women leaders, such as Vinita Bali, former MD of Britannia Industries; Indra Nooyi, former CEO at PepsiCo; and HUL’s Leena Nair, who was appointed Global Chief Human Resources Officer, and later left to became CEO of Chanel.
One of her principles is to stay curious and learn continuously, which is critical in management as the world changes at a rapid speed, she said in an interview. This approach should stand her in good stead.