Unilever PLC on Thursday announced a series of changes to its division leadership, partly triggered by the internal promotion of a new finance chief, as it also reported a small decline in.
Packaged goods makers including Unilever and Nestle disappointed investors with weak third-quarter sales volumes, but that could change in the coming months as price increases moderate. The slide in sales volumes of big brands only grew worse after the Ukraine war sparked a cost of living crisis. Top U.S. and European investors have this year flagged their concerns about high prices to consumer goods companies.
The new CEO said he’ll only consider small acquisitions and vowed to increase gross margin and deliver shareholder returns in the top third of its peer group. Previous CEO Alan Jope was criticized for a failed effort to buy GSK Plc’s former consumer health business.