HUL appoints ex-Revenue Secy Tarun Bajaj as Independent Director for 5 years

Hindustan Unilever Limited (HUL) has appointed former Revenue Secretary Tarun Bajaj as an Independent Director for a period of five years from December 1, 2023 to November 30, 2028. Bajaj was the Revenue Secretary, Government of India, before superannuating in November 2022. 

Commenting on his appointment, Bajaj said, “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 belongs to the Indian Administrative Service (IAS) 1988 batch of the Haryana Cadre. As the Revenue Secretary, Tarun Bajaj played a significant role in stabilising the goods and services tax (GST) regime. He also contributed towards significant increase in revenue collections under GST and Income Tax. The former Revenue Secretary also oversaw the upgradation of technology in the administration of both direct and indirect taxes. 

Before joining the Union Finance Ministry's Department of Economic Affairs, Bajaj worked as Joint Secretary and Additional Secretary to the Prime Ministe from April 2015 to 2020. He also served as the Joint Secretary, Department of Economic Affairs in 2014-15 and as a Director and Joint Secretary in the Department of Financial Services from 2006 to 2011. 

He has also chaired the National Investment and Infrastructure Fund and was the Director on the Central Board of the Reserve Bank of India as well as the Board of Securities and Exchange Board of India (Sebi). Besides this, he also served as Governor of India for the International Fund for Agriculture Development and the Alternate Governor of India for the World Bank (for India, Bangladesh, Bhutan and Sri Lanka), Asian Development Bank, Asian Infrastructure Investment Bank and New Development Bank. 

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

He has a Bachelor's degree in Commerce from Delhi University's Shri Ram College of Commerce, an MBA from IIM Ahmedabad and an M.Sc degree from the London School of Economics and Political Science. 

Also Read: Economy is bouncing back, tax compliance has been much better in last two years, says Revenue Secretary