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Paul Polman, managing director of consumer goods giant Unilever, announced that he would retire several weeks after the cancellation of the transfer project from its London headquarters.
The Anglo-Dutch company behind famous brands such as Marmite, Magnum, Parsley and PG Tips abandoned the switch in Rotterdam last month in the face of shareholder resistance.
Polman will retire as General Manager at the end of December but will remain in the company until next summer to "support the transition process," Unilever said.
He will be replaced by Alan Jope, who currently heads the conglomerate's beauty and personal care division.
PG Tips is one of the Unilever brands
Unilever's president, Marijn Dekkers, said: "Paul is an outstanding corporate executive who has transformed Unilever, making it one of the most successful companies in its sector and the most competitive company in the world. one of the most admired companies in the world. "
The company said Polman had a steady growth in sales and earnings relative to its peers.
Mr. Jope was appointed to succeed him after a "rigorous and far-reaching selection process".
He will continue to be paid in accordance with the company 's compensation policy – which last year saw him receive a total package of 11.7 million euros – up to the end of the year. at his departure on July 2nd.
This total figure was boosted by incentive bonuses that Mr. Polman will no longer receive now that he is going away.
Marmite was among the products removed from Tesco tablets due to the price posted in 2016
The end of his term was marked by the humiliating fall of Unilever on the planned changes in the company's dual structure in the UK and the Netherlands.
Unliever has always said that the proposed concentration on Rotterdam was not tied to Brexit, although the decision not to do so was widely seen as a boost for the UK.
The company said it received "broad support for the principle of simplification" but canceled its proposals after acknowledging that it had not received the support of a "major group of companies". ; shareholders. "
Royal London, Columbia Threadneedle, Legal and Corporate Investment Management, Aviva Investors, Lindsell Train, M & G Investments and Brewin Dolphin were among those who expressed their disapproval.
This decision would probably have meant that Unilever was no longer qualified for membership in the FTSE 100, a result that would likely have lowered its share price.
Polman's mandate for Unilever also caused a break with Tesco after it attempted to pbad on the higher costs of products such as Marmite after the fall of the pound after the Brexit vote.
The supermarket giant has temporarily removed from its website dozens of products from the company, although the resolved later.
Unilever, which is behind renowned brands such as Ben & Jerry's ice creams and Lipton teas, employs around 169,000 people worldwide.
It employs approximately 7,300 people in the United Kingdom and 3,100 in the Netherlands.
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