The CEO of Unilever, Paul Polman has made an announcement that he will retire at the end of this year. This is after serving the company, which is one of the biggest consumer goods businesses in the world, for 10 years. Polman is stepping aside from his position after losing a brutal fight with the shareholders over his intention to shift the company’s headquarters away from the United Kingdom. Unilever had put forward the arguments by stating the advantages, which the company will have in switching over to a single head office in a place like Amsterdam. The company believed that the shift would help in simplifying their structure. It would also provide more flexibility to buy or even sell off brands. Objections coming through from the big investors did not allow the company to go ahead with their plan.
The decision to give up the decision to relocate was looked at as a blow to the executives of the organization. Polman was also one of them. He had taken the initiative to review the company’s structure in the year 2017 after refusing the attempt made by Kraft Heinz of taking over the organization. An analyst named, Andrew Wood said that Polman deserved a lot of credit for bringing about changes within the organization and hence make it extremely competitive. Polman managed to get rid of some of the investors and completely focused on sustainable living in recent years.
Alan Jope will be the new individual, who would succeed Polman as the new CEO of Unilever. Jope is currently the head of the beauty and personal care business. The impending CEO is a veteran in Unilever. He joined the company’s marketing department way back in the year 1985. Previously, he was in charge of looking after the North Asia business of Unilever and also served as President of their operations in the Middle East, Russia and Africa. Jope had also spent 10 years in senior roles in America. According to the analyst, Andrew Wood, Jope is an extremely high-quality candidate from within the organization. It is believed that he will manage to continue with the good work done by Polman.