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P Balaji quits HUL as CFO, to join Tata Motors as CFO from November 2017

Last Updated 14 August 2017, 13:06 IST
P Balaji, who was the chief financial officer of fast moving consumer goods major Hindustan Unilever has quit the company to join Tata Motors as CFO.
 
"PB Balaji, executive director, finance and IT and CFO, has tendered his resignation from the board of the company, to explore an opportunity outside the company," HUL said in an intimation to the exchanges.
 
In a separate communique to the exchanges, Tata Motors said that the company has appointed P Balaji as CFO. "Tata Motors announced the appointment of PB Balaji as the new CFO, Tata Motors Group from November 2017, to drive financial performance and bring greater rigour to operations and investment decisions across the different entities," the company said.
 
Balaji started his career with Unilever in 1995 and worked in different corporate finance roles across Asian markets, Switzerland, UK and India. Since 2014, he has been heading the finance function as the CFO of Hindustan Unilever. Prior to that, he was the chief accountant of the Unilever Group in London.
 
"Balaji's deep knowledge in all areas of finance and his global experience will be very valuable for the Tata Motors Group. He will be a great addition to the management team," Tata Motors chairman N Chandrasekaran said.
 
"Balaji will play a very important role in our transformation journey and help us in our renewed focus on the topline, market share growth, major cost reduction initiatives and efficiency improvements to deliver better financial performance and profitability in the future," Tata Motors chief executive officer and managing director Guenter Butschek said.

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(Published 14 August 2017, 13:06 IST)

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