Media reports state that he will report to Harman Dhillon, HUL’s Executive Director, Beauty and wellbeing
Hindustan Unilever or HUL has appointed former Marico and Flipkart executive Koteshwar LN as the Chief Executive Officer (CEO) of its wellness nutrition business Oziva. Media reports noted that he will report to Harman Dhillon, Executive Director, Beauty and Wellbeing, HUL.
Reports further emphasised that Koteshwar LN will also be in charge of the company’s overall wellness portfolio, which includes electrolyte drink Liquid IV. He has joined the company at a time when the wellness nutrition business is going through a phase of intense competition.
With over two decades of experience in FMCG, beverage and ecommerce verticals, he previously served in senior roles at Marico, Flipkart and The Coca-Cola Company. At Marico, his tenure lasted two years and eight months, during which he served as the EVP and P&L Head for startups and digital-first businesses.
Investments In Oziva
In February 2026, the board of directors of HUL approved the acquisition of the remaining 49 per cent stake in Zywie Ventures as per the pre-agreed valuation framework, for a consideration of Rs 824 crore. This made Oziva a wholly owned subsidiary of the company.
“Health and wellbeing is an important growth vector for us, driven by rising consumer interest in everyday wellness. By taking full ownership of OZiva, we are doubling down on this exciting space to unlock the next phase of growth. Our decisions today reflect our intent of fewer, bigger bets where we can leverage HUL’s strengths in science, distribution and market development to scale purpose-led brands,” stated Priya Nair, Chief Executive Officer (CEO) and Managing Director, HUL.
Since entering the H&W category in 2023, HUL has focused on building a strong presence in this nascent yet fast-growing consumer space. Oziva has delivered strong performance following HUL’s majority investment of 51 per cent, scaling to approximately Rs 480 crore in 2025 with a growth of 130 per cent compound annual growth rate (CAGR) in last two years, the company said in a regulatory filing.
