Hindustan Unilever on Thursday named Priya Nair as managing director and CEO, replacing Rohit Jawa well before the completion of his five-year term as the company's chief.

Priya Nair will lead Hindustan Unilever from August 1, becoming its first Indian woman CEO. Market reacted positively, with HUL shares rising 4.6%. Analysts expect strategic changes as HUL counters stiff competition in beauty,

Hindustan Unilever Ltd (HUL) on Thursday announced Priya Nair as the next managing director and chief executive officer (MD and CEO) of India's largest FMCG firm. Nair, currently president of Unilever's Beauty & Wellbeing division, will take over on August 1. According to PTI, she will be the first woman to hold the posts at Hindustan Unilever.