Hindustan Unilever (HUL) today announced a key change in the management committee of the company. Punit Misra, currently executive director and vice president, sales and customer development, has decided to leave Hindustan Unilever to pursue an external opportunity.

Srinandan Sundaram, currently vice president, skin care, will take over from Punit as the executive director, sales & customer development, and will join the HUL management committee the change will be effective from Sept. 1, 2016.

Sanjiv Mehta, CEO & managing director, HUL, said, "I would like to welcome Srinandan to the HUL Management Committee and wish him success in his new role. Under Srinandan's leadership, the Hair and Skin Care businesses have seen strong growth fuelled by innovations and brilliant marketing."

"I would also like to thank Punit for his invaluable contribution to Unilever over the last twenty years. He passionately led a transformational Customer Development (CD) agenda which has helped strengthen the CD function of HUL. I wish him the very best for his future endeavours," Sanjiv added.

Shares of the company declined Rs 19.15, or 2.04%, to settle  at  Rs 920.45.  The total volume of shares traded  was  346,647 at  the BSE (Monday).