M. S. Banga

Unilever (1977–2010)

Banga spent 33 years at Unilever. He held a series of increasingly senior roles across Asia and globally, culminating in his appointment to the Unilever Executive Board as President, Foods in 2005, with additional responsibility for Home & Personal Care added in 2008. ^[4]

From 2000 to 2005 he served as Chairman and Managing Director of Hindustan Unilever Limited (HUL), Unilever's listed subsidiary in India.^[5]

Clayton, Dubilier & Rice (2010–present)

Banga joined Clayton, Dubilier & Rice as a Senior Partner in 2010. He chairs CD&R's Sustainability Council and established the firm's presence in India through a partnership with Kedaara Capital Advisers.^[5]

He has chaired and served on the boards of several CD&R portfolio companies:

• Diversey, Inc. – Chair of the Executive Committee from 2010 until the company's sale to Sealed Air Corporation in a transaction valued at $4.3 billion, announced in June 2011 and completed in October that year.
• B&M Retail – Director from 2012 to 2014. The company completed an initial public offering on the London Stock Exchange in June 2014, raising approximately £1.08 billion in total proceeds. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.^[6]
• Mauser Group – Chair from 2014 to 2017. The German bulk packaging company was sold to Stone Canyon Industries in an all-cash transaction valued at approximately $2.3 billion in April 2017, having previously filed for an IPO on the NYSE. ^[7]
• Kalle GmbH – Chair from 2016 to 2018.
• Morrisons – Board Member since the supermarket chain was taken private by CD&R in October 2021 in a transaction valued at approximately £7 billion. In May 2022, Morrisons acquired McColl's Retail Group out of administration, with all 16,000 McColl's employees transferred to Morrisons.^[8]
• High Ridge Brands – Director from 2016 to 2020. The US personal care company entered administration.

Non-executive and public board roles

• Banga was a Non-Executive Director of Maruti Suzuki (India) from 2003 until 2012.^[9]
• He was a Non-Executive Director of Thomson Reuters Corporation from 2009 until May 2016.
• He served as a Non-Executive Director and Senior Independent Director of Marks & Spencer plc from September 2009 until September 2016.^[10]
• Banga joined the board of GlaxoSmithKline (GSK) as a Non-Executive Director on 1 September 2015, succeeding Sir Deryck Maughan as Senior Independent Director from 5 May 2016. He served until July 2022.^[11]
• Following the demerger of GSK's consumer healthcare division on 18 July 2022, Banga joined the board of the newly listed Haleon plc as Senior Independent Director.^[12] Haleon is a FTSE 100 company listed on the London Stock Exchange. He was appointed Chairman of Haleon with effect from 1 January 2026, succeeding Sir Dave Lewis.^[13]
• He is a Non-Executive Director of The Economist Group (since 2020).^[14]

UK Government Investments

• Banga was appointed Chair of UK Government Investments (UKGI) in September 2021.^[15]
• He was reappointed for a second three-year term commencing September 2024.^[16]

Academic institutions

• Banga has been Chair of Council at Imperial College London since 1 April 2024, succeeding John Allan CBE as the 14th holder of the role.^[17] Imperial is a science, technology and business university with approximately 20,000 students, ranked among the world's top universities. His other board and advisory roles in education have included:
• Board Member of the Indian Institute of Management, Ahmedabad (2000–2005).
• Executive Board Member of the Indian School of Business, Hyderabad, from its founding in 2001, with founding partnerships from Wharton, Kellogg and London Business School.
• Member of the Advisory Board of the Wharton School.
• Member of the Global Advisory Council of Saïd Business School, University of Oxford (2016–2024).

Charitable and public sector activities

• Banga served as Chair of Marie Curie, the UK's largest palliative care charity, from 2017 until 31 December 2024.^[18]
• He is a Commissioner on the Global Commission on Modern Slavery and Human Trafficking.^[19]
• He has been a Board Member of the International Chamber of Commerce (UK Chapter) since 2021.
• He was a Member of the World Economic Forum Global Future Council until 2023.
• He was a Board Member of the Confederation of British Industry (CBI) until 2019 and Chair of its Economic Growth Committee until 2017.
• He was a judge on the Financial Times Business Book of the Year Award from 2010 to 2013.
• He and his wife Kamini have established the Kamini and Vindi Banga Family Trust, registered as a charity in January 2017, which supports cancer research and education primarily in the United Kingdom.^[20]