ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintSite TitleTitle ChevronIcon Twitter
Business

Shareholders appoint president from Indian arm

JAKARTA -- Unilever Indonesia, the domestic arm of an Anglo-Dutch consumer goods maker, on Thursday appointed a new president hired from the company's Indian entity. The move is likely to strengthen ties between the two company subsidiaries and boost efficiency. 

     Hemant Bakshi, 50, was appointed as the new head by Unilever Indonesia's shareholders at an extraordinary meeting. Bakshi was previously an executive director at Hindustan Unilever, and replaced Maurits Lalisang, who has served as president of Unilever Indonesia since 2004.

     Unilever Indonesia said on Thursday that 2015 would be a challenging year for their business because the new government led by President Joko Widodo has hiked fuel prices by more than 30%. The decision is likely to impact the consumer business.

     The company is optimistic of Indonesia's longer term potential, because local buying power will increase alongside per-capita wealth.

     McKinsey & Company said Indonesia's consuming class is estimated to grow by 7.7%, or 5 million people per year, by 2020. The consuming class today represents a population of 55 million. It is expected to reach 86 million, or 1 trillion in sales, at the end of the decade.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Try 1 month for $0.99

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends July 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media