Unilever Nepal appoints Ashish Rai as new Managing Director

Unilever Nepal Limited (UNL) has appointed Mr. Ashish Rai as the new Managing Director (MD) of the company. As per the notice published in Nepal Stock Exchange (NEPSE), the BOD meeting of the company held on Mangsir 14, 2074 has decided to appoint Mr. Ashish Rai as the MD of the company effectively from Mangsir 12, 2074. He was appointed as the new Managing Director after former MD Suyash Chaudhary resigned from his post. Mr. Rai has completed MBA in Marketing from Delhi University post B.E. from Indian Institute of Technology. He had first joined Hindustan Unilever Company in an Account Manager position in 2006, eventually ranking up as MD in Hindustan Unilever on 2015. Unilever Nepal is a subsidiary company of Hindustan Unilever Company which owns 80% stake in the company and rest 20% is owned by the general public of Nepal. Of the total stake of general public, Ravi Bhakta Shrestha is a local partner of the multinational company. Unilever Nepal has posted impressive profit figures in the first quarter of FY 2074/75 and hence announced Rs 1,270 cash dividend per share to its shareholders which is the highest ever dividend by any company in Nepal, so far.