P Balaji Steps Down As CFO, HUL

Tata Tiago AMT Front three quarter right

Tata Tiago AMT Front three quarter right

"Tata Motors is delighted to welcome Mr. Balaji as the new CFO for the Tata Motors Group".

HUL in a stock exchange filing today said, "P B 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". Balaji, whose mandate includes driving financial performance and bring greater rigour to operations and investment decisions across different entities, will take charge at the auto major from November, Tata Motors said.

On the appointment, N. Chandrasekaran, Chairman, Tata Motors said: "Mr Balaji's deep knowledge in all areas across finance and his global experience will be very valuable for the Tata Motors Group". He started his career with Unilever in 1995 and worked in different corporate finance roles across Asian markets, Switzerland, UK and India. He was also the Group Chief accountant at Unilever worldwide based out of London. Balaji, who now moves from HUL to Tata Motors, has had a long stint of 20 years with the company where he began as management trainee in 1993.

"Mr. Balaji will play a very important role in our transformation journey and help us in our renewed focus on topline, market share growth, major cost reduction initiatives and efficiency improvements to deliver better financial performance and profitability in the future", Guenter Butschek, CEO&MD, Tata Motors. A product of IIT-Chennai and IIM-Kolkata, Balaji (46) is the latest Leverite to be poached by the Tatas. Since 2014, he has been heading the finance function as the Chief Financial Officer of Hindustan Unilever, a $6 billion enterprise. "I look forward to being part of the transformation journey and an exciting career ahead", said Mr. Balaji.

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