Kwality Wall’s (India) Limited appoints Board of Directors

Mumbai, 23 November 2025: Kwality Wall’s (India) Ltd. (KWIL), a leading ice cream and frozen desserts company in India, today announced the constitution of its Board of Directors, ahead of its demerger from Hindustan Unilever Limited (HUL). A total of seven appointments has been made, including one Non-Executive Director, two Executive Directors and four Independent Directors. The newly formed Board brings together seasoned corporate leaders with extensive experience across consumer goods, finance, governance, regulatory affairs, risk management and strategic mergers & acquisitions. These members will be responsible for guiding KWIL as it embarks on its journey as an independent listed entity.

The Board comprises:

Non-Executive Director

• Ritesh Tiwari: A renowned industry leader with over 25 years of global experience, Ritesh Tiwari currently serves as the Global Head of M&A, Treasury and Ventures at Unilever PLC. He joins the Board as a Non-Executive Director with effect from 17th November 2025. Mr. Tiwari is a seasoned finance leader with extensive experience across the UK, India, and other Asian markets. He has previously served as Executive Director – Finance & IT and Chief Financial Officer of Hindustan Unilever Limited. Driven by the ethos of “delivering in the present while building for the future,” Ritesh is credited with bringing digital transformation, simplification, and leading projects with high business impact throughout his career

Executive Directors

• Chitrank Goel: An industry leader with over 20 years of experience in the Consumer Packaged Goods (CPG), Snacking and QSR–Retail sectors, Mr. Goel will take on the role of Deputy Managing Director and be an Executive Director on the board. With 15+ years in the ice-cream category, he has held leadership roles across Unilever in India and Europe and later served as EVP – Emerging Business Unit at Jubilant FoodWorks Ltd. A graduate of Hansraj College with an MBA in marketing & strategy. He has driven large-scale category transformation and accelerated the growth agenda in his previous roles.

• Prashant Premrajka: A seasoned finance professional with over 22 years of experience in the consumer goods industry, Mr. Premrajka will assume the role of Chief Financial Officer (CFO) and join the board as Executive Director. He has led key finance functions at HUL and previously served as CFO of Kimberly-Clark Lever India. An alumnus of St. Xavier’s College and IIM-Ahmedabad, he brings strong financial leadership, governance expertise and business partnering excellence.

Independent Directors

• Ravi Pisharody: A corporate leader and management professional with 40+ years of experience in large multi-national and Indian companies, he has expertise in business development, strategic management and marketing, Mr. Pisharody serves as a Non- Executive Director on the Board of Savita Oils and Technologies Ltd, Muthoot Finance and several other companies. He spent 10+ years with Tata Motors, including as Executive Director on the board of the company. He spent more than 18 years at Philips and over 8 years at BP/Castrol, where he also served on the Board of Castrol India. This includes 3 years with BP, Singapore in a Global Marketing role. He is an alumnus of IIM Calcutta and completed his Bachelor of Technology from IIT Kharagpur.

• Madhavan Hariharan: Group CFO and Head of Strategy at CKA Birla Group, Mr. Hariharan brings with him vast experience in enterprise risk management, mergers & acquisitions, corporate governance, and talent management, driving organisational growth and strategic direction. He also serves as an Independent Director and Audit Committee Chair at Galaxy Surfactants Ltd. Before joining CKA Birla, he spent nearly two decades at Philips in various leadership roles. A Chartered Accountant by qualification, Madhavan has a strong background in business strategy, finance, management, and leadership.

• JV Raman: An experienced and accomplished CEO and consumer sector global expert, Mr. Raman, an IIM Bangalore alumnus, has worked in Unilever for nearly three decades across several countries, including developed and emerging markets. He has also worked in the ice cream category in India and Asia. Over the last decade, he has headed significant businesses of Unilever in Vietnam and Russia . He is currently also associated with Multiples Alternate Asset Management as Senior Operating Advisor.

• Shukla Wassan: Has served for more than ten years on various company boards including FMCG entities across India, Nepal, Bangladesh, and Sri Lanka. Ms. Wassan brings over three decades of leadership experience in senior management roles at multinational companies. Her expertise includes strategic partnerships and alliances, mergers & acquisitions, joint ventures, intellectual property, law, corporate governance and corporate social responsibility.

KWIL will be demerged from HUL on 1st December 2025 and established as a separate company, marking a strategic milestone to unlock focused value creation in the fast-growing ice cream category. As one of India’s most loved ice cream brands with a strong heritage and expansive distribution footprint, KWIL is poised to accelerate growth, operating independently with a dedicated leadership and governance structure.

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About the Company:

Kwality Wall’s India Limited (KWIL) stands among India’s foremost ice cream and frozen dessert companies, offering a powerful portfolio of beloved brands including Kwality Wall’s, Magnum and Cornetto, enjoyed by millions nationwide. Driven by an unwavering commitment to quality, innovation and consumer delight, KWIL continues to set industry benchmarks across the country. Effective 1 December 2025, KWIL will be independently operating and will be listed on India’s two major stock exchanges in due course. This strategic move positions the company for focused, accelerated growth and provides enhanced agility to leverage its unique operating model and respond swiftly to evolving market dynamics.