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Unilever, the Anglo-Dutch consumer goods company, announced Thursday that long-time president Paul Polman would retire at the end of the year.
Polman will step down on Jan. 1, but will remain in place during the first half of 2019 to support the transition process for new CEO, Alan Jope, currently president of Unilever's beauty and personal care division.
Unilever's plan to abolish its dual-listing structure and to only locate in the Netherlands was wiped out earlier this year by a shareholder uprising. The company said the proposal, which Polman had spearheaded, would make it more competitive as the consumer goods sector consolidates, but shareholders rejected the move.
Mr. Jope, veteran of Unilever, runs the beauty and personal care division – the largest – since 2014. He entered for the first time as a marketing trainee in 1985.
Over the ten years of his tenure, Mr. Polman stated that his company had generated "steady growth in revenue and net income ahead of its markets" and a total shareholder return of 290% over this period.
A successor to Mr. Jope will be announced "shortly," Unilever said.
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