Unilever CEO Paul Polman steps down after HQ relocation fiasco
Unilever chief executive officer (CEO) Paul Polman is to retire after a decade at the helm of the consumer giant, the firm said on Thursday, after 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 huge beauty and personal care department.
Polman, 62, tweeted that he had decided to “step down from my role as CEO”, adding: “It’s been a great honour to lead this team for the past 10 years and together build a sustainable business that has made a difference to millions of lives.” “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,”
THEHAGUE:
added the Dutchman.
Jope, 54, who currently leads the firm’s largest division and has been with Unilever since 1985, said it would be a “huge privilege to lead Unilever”. Polman is due to retire as CEO on December 31 but will stay at the company for six months working on the transition with Jope, the firm said.
Neither made any mention of the plan to move the firm’s corporate base from London to the Dutch port city of Rotterdam, but Polman’s position had been in doubt since it fell through on 5 October.
Since its creation, Unilever maintained a dual-headed structure and listings on the London, Amsterdam and New York stock exchanges.
But in March Polman unveiled a plan to create a single structure for the company in the Netherlands.
Unilever had faced mounting opposition to the move from key shareholders, including Aviva Investors, Royal London, Columbia Threadneedle, Legal & General Investment Management and Lindsell Train.