Unilever CEO: Investor Peltz backs strategic changes
Financial Express Mumbai|February 13, 2024
UNILEVER CEO HEIN Schumacher said board member Nelson Peltz is "fully behind" a recently devised strategy to re-invigorate the company, showing that he still has the backing of the activist investor who endorsed his appointment last year.

Schumacher told Reuters he wants Unilever, whose brands include Dove soap, Hellmann's condiments and Ben & Jerry's ice cream, to chart a "systematic" marketing strategy for its top brands. The 52-year-old Dutchman also said he will not shy away from streamlining Unilever's 127,000 workforce.

His predecessor Alan Jope was criticised for allowing the group's brand portfolio to grow to around 400, leaving management with too little time to focus on its best performers.

Some investors had also said Unilever was too slow to revive margins in the wake of the pandemic while the likes of Fundsmith's Terry Smith lambasted the company for being "obsessed" with sustainability at the expense of performance.

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