Unilever CEO Alan Jope To Retire
Unilever CEO Alan Jope will retire at the end of 2023, the company announced today in a statement. Jope has worked for the global CPG giant for 35 years, beginning as a trainee, and worked his way up to hold a range of senior leadership positions before being named CEO in 2019.
“As I approach my fifth year as CEO, and after more than 35 years in Unilever, I believe now is the right time for the Board to begin the formal search for my successor,” said Jope in a press release. “Growth remains our top priority, and in the quarters ahead I will remain fully focused on disciplined execution of our strategy, and leveraging the full benefits of our new organization.”
The company said its board will consider both internal and external candidates as it begins to search. In July, Trian Fund Management LP bought a 1.5% stake in Unilever; Trian founding partner and activist investor Nelson Peltz joined the company’s board as part of the deal. Peltz also serves on the board of Wendy’s, Procter & Gamble and Sysco; previously he was the director of companies like the H.J. Heinz Company and Mondelēz International.
The news also comes after the business underwent numerous internal changes, including cutting 1,500 management jobs in January, and amid reports it would be scaling back or potentially eliminating its food businesses. Last year, Unilever divested its tea portfolio, including the Lipton brand, and the company’s board noted in an SEC filing that Unilever’s future relies on the expansion of its Health, Beauty and Hygiene segments.
However, Jope, who once served as COO of Home and Personal Care for the company, said earlier this month that the company’ food business will remain a core part of operations. Currently, the entirety of Unilever’s food portfolio is divided between two segments: nutrition, which houses products like plant-based meat and better-for-you snacks, and ice cream, which includes brands like Ben & Jerry’s and Breyer’s.
“Alan’s retirement next year will mark the end of a remarkable career with Unilever. Under his leadership, Unilever has made critical changes to its strategy, structure and organization that position it strongly for success,” said Unilever chairman Nils Andersen, in a press release. “This work continues, and we will thank Alan wholeheartedly for his leadership and contribution to our business when he leaves next year.”
At the same time it scaled back its team, Unilever also had reportedly made multiple, failed attempts to buy the consumer brands division of GlaxoSmithKline (GSK) which makes products like Sensodyne, Tums and Advil. The deal would have seen dozens of health and beauty products join its portfolio.
