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Unilever appointed Alan Jope, Personal Care Manager, to succeed Paul Polman as General Manager, choosing a safe pair of hands to lead the consumer goods giant after a turbulent period.
Jope, 54, represents the continuity of the manufacturer. Dove soap and Ben & Jerry ice cream. He succeeds Polman, who is 62 years old, has rejected an unwanted public tender offer of Kraft Heinz Co. and has given up a plan to consolidate the headquarters of the Anglo-Dutch company in Rotterdam after the investor revolt .
0.6% Thursday morning in Amsterdam and up about 5% for the year
The appointment of Jope, who seeks to increase the profitability of Unilever by creating a division called Prestige with high-end skin care brands such as Ren and Dermalogica, comes at a time when activist investors and companies like Kraft Heinz are pushing the industry to expand profit margins. Polman, who has been running the company for nearly a decade, has been one of the biggest advocates for sustainability in the area of sustainable development initiatives.
Jope brings a digital sensibility to following the CEO, having encouraged the use of new marketing tools to connect with millennial consumers. Last year, he founded a technology center in the Tribeca neighborhood of New York, specializing in online communication for brands such as Dove and Ax Shower Gel. The information collected from this team has also been used to support new brands such as Love Beauty and Planet, an environmentally friendly line of personal care products.
China Business
Jope led Unilever's operations in China, whose performance under the leadership of CEO-in Waiting received praise from Polman. The executive also has experience in the food sector of the company, which gives them an understanding of the two key business areas. Market speculation also focused on other internal candidates, such as CFO Graeme Pitkethly and Nitin Paranjpe, chief of food and beverage, as well as external choices that may have led to company in a new direction.
An external "rock star" nomination, which might disappoint some, "said in a note RBC badyst, Edward Edward Jones.
The personal care division was the largest of the company's Last year, with a turnover of 20.7 billion euros (US $ 23.6 billion), nearly double the food sector and just under half the figure The company 's total business has become a breeding ground for British CEOs, with former chief Dave Lewis having been appointed to head Tesco Plc in 2014.
Under Polman, Unilever has reviewed its portfolio with the acquisition of niche brands such as organic tea maker Pukka Herbs and Sir Kensington's condiments, his rival Nestle SA, will capitalize on consumer demand for more products. healthier and more valuable as traditional brands stagnate.
The Decision The new CEO, which followed a year-long search, was finalized Wednesday at a meeting of the Board of Directors at Unilever's North American Headquarters in New Jersey. . The appointment will come into effect on January 1 st. Polman will support the transition in the first half of 2019.
Polman was one of the most vocal advocates in the business community for aligning profits with social goals. He has at times been criticized for failing to put enough emphasis on shareholder returns, but he countered last year by saying that the underlying earnings of the stock price were higher. to those of Warren Buffett, one of the biggest investors of Kraft Heinz.
London during its term on that date rose to 159%, compared with 154% for Buffett's Berkshire Hathaway Inc. during the same period. Today, Polman 's yields are 170%, compared to 236% at Buffett.
"Just like one of Unilever's most prominent products, Marmite, Polman generates very divergent opinions among investors," said Woodstein badyst Andrew Wood, in a statement. his note, Andrew Wood. "We consider that Polman has been a very good CEO of Unilever."
by Thomas Buckley and Eric Pfanner
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