HUL appoints former revenue secy Tarun Bajaj as independent director

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FMCG major Hindustan Unilever (HUL) has appointed former revenue secretary Tarun Bajaj as its independent director effective Friday for five years, the company announced. 


Bajaj, a 1988-batch IAS officer of the Haryana cadre, served as the Revenue Secretary in the Indian government before superannuating in November 2022. 


“As the Revenue Secretary, he played a key role in stabilising the Goods and Services Tax (GST) and contributed towards a substantial increase in revenue collections under GST and Income Tax,” HUL said in its release.


“During this period, he was responsible for upgrading technology in the administration of both direct and indirect taxes, resulting in transparency and efficiency in the working of the two departments,” HUL said in its release,” it said


He also chaired the National Investment and Infrastructure Fund and was the director on the Central Board of the Reserve Bank of India and the Board of Sebi. He also served as the Governor of India for the International Fund for Agriculture Development and as Alternate Governor of India for the World Bank (for the constituency of India, Bangladesh, Bhutan and Sri Lanka), Asian Development Bank, Asian Infrastructure Investment Bank and New Development Bank.


Bajaj served on the Boards of SIDBI, Bank of Maharashtra, Bank of India, General Insurance Corporation Limited, New India Assurance Company Limited, and United India Insurance Company Limited.


“Tarun has an innate knowledge of the country’s economic policies and has been responsible for shaping key fiscal initiatives of the Government of India. His vast experience in administration, management and public policy, will undoubtedly be beneficial to HUL,” Nitin Paranjpe, non-executive chairman HUL, was quoted as saying in the release. 


 “Over the years, we have seen HUL contribute towards India’s growth journey. The company’s success is reflective of its efforts to continuously reinvent itself with a changing India. I am honoured to join the HUL Board and look forward to my role as an independent director,” Bajaj said.


Bajaj has a Bachelor’s Degree in Commerce from Shri Ram College of Commerce, Delhi University, an MBA from IIM Ahmedabad and an M.Sc from the London School of Economics and Political Science. He is also a Chartered Financial Analyst from the Institute of Chartered Financial Analysts of India, Hyderabad.