Unilever announces MD because of its new entity in Bangladesh
Unilever, it appears, is dead seriously interested in getting a good foothold in Bangladesh's diet business.
On Tuesday, the Anglo-Dutch consumer items giant finally completed its acquisition of GlaxoSmithKline's wellness food and drinks organization in Bangladesh, and instead of swallowing it into its wider operations, it has set up a separate entity.
And yesterday, it announced KSM Minhaj, the customer expansion director of Unilever Bangladesh, as the managing director of the brand new company, christened Unilever Client Care.
The announcement was made after getting the approval from the board of directors of GSK Bangladesh at its 297th meeting on Tuesday, said a press release from Unilever.
The board of GSK Bangladesh was reconstituted post acquisition by Unilever Overseas Holdings BV and Masud Khan was re-elected as the chairman.
Minhaj delivers with him 2 decades of abundant fast-moving buyer goods (FMCG) experience around multiple categories in food, home and personal attention while leading both advertising and customer development functions as an associate of the administration committee of Unilever Bangladesh during the last nine years.
He started his profession at Nestlé Bangladesh in 2000, doing stints in supply chain and company administration before joining Unilever found in 2006.
He was one of the youngest advertising directors of the country in 2011, leading a good motivated and dynamic advertising group that successfully reshaped the laundry, skin and head of hair portfolio delivering both competitive and successful growth.
The seeds into the future businesses like water, savoury edibles and palm and body were also sown under his leadership through the introduction of makes like Pureit, Knorr and Vaseline, the news release said.
In 2014, Minhaj was appointed director for revenue and customer development at UBL.
Within the last six years, he has successfully transformed the function, rendering it future-fit by driving execution excellence, expanding distribution base, and creating an excellent mixture of go-to-market talent.
It will be an enormous privilege to lead Unilever's nutrition business in Bangladesh, Minhaj said in the statement.
"I cannot help but celebrate as soon as as two of the very most respected global organisations operating in Bangladesh be a part of hands to take the nutrition organization to a greater height. I believe with such high quality of skill and purposeful makes we will be able to build an inspiring food and refreshment organization in Bangladesh," he added.
The 44-year-old obtained a bachelor of business administration level in management from the business enterprise studies faculty and an MBA in marketing from the Institute of Organization Administration, both under the University of Dhaka.
He went to Dhaka College and St. Joseph SENIOR HIGH SCHOOL in Dhaka, according to his LinkedIn profile.
Unilever Consumer Health care will continue as a publicly listed independent entity and all of the brands of GSK Bangladesh such as for example Horlicks, Raise and Glaxose-D will still be a part of the business's portfolio.
In 2018, Unilever announced its intent 82 % stakes in GlaxoSmithKline's health food and drinks business in Bangladesh for Tk 2,020.75 crore in its push to help expand its footprint in Asia's fast-growing economies.
GSK shuttered its 60-year-old pharmaceuticals business found in Bangladesh found in 2018. The pharmaceuticals unit, based in Chattogram, was incurring losses in the previous five years, many to the concern of the GSK Bangladesh plank.
With the view to protecting against any longer losses, the board decided to lower the curtains on the business enterprise.
GSK continued to outperform competition in both health food refreshments and toothpaste, with the company's share increasing to 95.8 % in medical food drink category, an increase of 0.3 % over 2017.
The share of GSK traded 0.34 % higher at Tk 2,182 on the Dhaka STOCK MARKET on Tuesday. The marketplace was closed yesterday due to the bank holiday.
