Hindustan Unilever (HUL) informed the Bombay Stock Exchange on 28 December 2011 that Deepak Parekh, an Independent Director on the Board of HUL resigned after a tenure of more than 14 years.
Parekh stepped down as Director from the board of Hindustan Oil Exploration Company (HOEC). He was associated with the company since its formative years according to HOEC's filing to the BSE. HOEC was incorporated in 1983 and commenced operational activities in 1991.
Parekh had joined the HUL board as an independent director in May 1997. He was also the chairman of the audit committee.
Parekh continues to be on the boards of all HDFC Group companies (except HDFC Bank), Mahindra & Mahindra, Castrol India and Indian Hotels Company Limited. Parekh is also non-executive Chairman at GlaxoSmithkline Pharmaceuticals, Infrastructure Development Finance Corporation and Siemens India Ltd.
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