Anglo-Dutch food and consumer goods giant Unilever has announced that it is to abandon its dual chairman/chief executive structure.
Go deeper with GlobalData
As such, Antony Burgmans, currently chairman of Unilever NV, will become non-executive chairman of both Unilever NV and Unilever PLC responsible for managing the boards. It is expected that this position will be filled in the course of 2007 by an independent non-executive director.
Patrick Cescau, currently chairman of Unilever PLC, will take on the role of group chief executive, responsible for all operations. Bertrand Collomb, currently senior independent director, will in addition assume the role of non-executive vice-chairman of both Unilever NV and Unilever PLC. The number of executive members of the boards will be reduced from seven to four.
Meanwhile, the company also said underlying sales for the fourth quarter of 2004 grew by 3.2%, and leading brands by 3.7%, including the benefit of two additional days.
For the full year underlying sales grew by 0.4% and leading brands by 0.9%. Sales declined in Western Europe with share losses in some categories in weaker markets. In Asia, the company said, it was a year of intense competition.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataFor 2005, Unilever said the number one priority is to restore sustainable top line growth.
“The step up in market competitiveness begun in the fourth quarter of 2004 will be sustained and carefully targeted at specific categories and regions. In addition our plans are based on a sharpening of innovation, better portfolio management of brands to drive categories and winning with customers by further improving the way we go to market,” the company said, adding that it anticipates an easing of some commodity cost pressures through the year.
