Unilever boss quits after failed move

Source: Xinhua | 2018-11-30

Unilever chief Paul Polman is to retire after a decade at the helm of the consumer giant, following a failed plan to move the firm’s headquarters from London to the Netherlands.

The Anglo-Dutch maker of iconic brands like Marmite and Dove soap will be headed from January by Alan Jope, the current chief of its beauty and personal care department.

Unilever Chairman Marijn Dekkers said Polman was an “exceptional business leader who has transformed Unilever, making it one of the best-performing companies in its sector, and one of the most admired businesses in the world.”

Polman, 62, tweeted that he had decided to “step down from my role as CEO.”

He added: “I have no doubts that I will be leaving the company in excellent hands. Under Alan’s leadership Unilever is well-placed to prosper long into the future.”

Since its creation in 1930, Unilever maintained a dual-headed structure and listings on the London, Amsterdam and New York stock exchanges.

Moving its headquarters to the Netherlands would have meant greater protection against takeovers, particularly from rival Kraft Heinz.

But it had faced opposition from shareholders angry that the plan would have ended Unilever’s listing on the London stock exchange, meaning that many would have had to sell shares in Britain.