Paul Polman, the Chief Executive of Unilever is about to bid adieu from his position by the end of this year. His position will be taken over by Alan Jope, President of the beauty and personal care division of Unilever. Both will work in conjugation until the middle of the upcoming year, during the period of transition, to keep the operations unblemished.
The 62-year-old man, who had run the Dove soap and Marmite maker for the last 10 years, decided to retire after two months of scrapping his plan to restructure the company due to the shareholder criticism.
The giant in the consumer goods industry is headquartered in Rotterdam and London. As per the proposed change, the company would have been headquartered in the Netherlands only. The investors thought that the move would compel the shareholders based in the UK to sell the shares under them.
The Chairman of Unilever, Marjin Dekkers stated that Paul Polman was an exceptional mentor and leader, who had given the organization a new structure by transforming the old policies and setup. He even confessed that Paul Polman is responsible for the success of the company and has tagged the company as the best performing company in its genre. In fact, the business strategies followed by the company is considered one of the best in the market, which have helped the company excel.
The value of the company is worth £124 billion and is also in the FTSE 100 share index of the UK. Paul Polman has stated that abolishing the plan indicates the company has confirmed its listing in the London Stock Exchange.
As per the rules of the UK, the proposed change would have removed the company from the FTSE 100, which is also the maker of Ben & Jerry’s ice cream and Pot Noodle.