DIRS.INFO The most relevant business & tech news

☆ Unilever: Ben & Jerry’s and Magnum will form the core of an $8 billion ice cream company
▼ + stars: | 2024-03-19 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —The world’s biggest ice cream business is about to go it alone. The newly minted firm will boast five of the 10 best-selling ice cream brands worldwide, namely Magnum, Ben & Jerry’s, Breyers, Walls and Cornetto. “The future growth of Unilever and ice cream is best served by separating the business,” Unilever CEO Hein Schumacher told journalists. Philippe Wojazer/ReutersThe origins of Unilever’s ice cream business can be traced back to the summer of 1913, when Thomas Wall started selling ice cream from his family butcher shop in London. But its ice cream sales took a hit last year as cash-strapped consumers cut back on non-essential spending.

Persons: Jerry’s, “, Hein Schumacher, ” Schumacher, Miko Carte, Philippe Wojazer, Thomas Wall, Matt Britzman, Hargreaves, ”, —, Schumacher Organizations: London CNN, Unilever, ” Employees, Schumacher Locations: Saint, France, London, €

☆ Unilever to Cut 7,500 Jobs and Spin Off Ben & Jerry’s Ice Cream Unit
▼ + stars: | 2024-03-19 | by ( Jason Karaian | ) www.nytimes.com time to read: +1 min

Unilever, the consumer goods giant, said on Tuesday that it would cut 7,500 jobs and spin off its ice cream unit, which includes Ben & Jerry’s, to reduce costs and simplify its portfolio of brands. The moves would make for “a simpler, more focused and higher performing Unilever,” Ian Meakins, the London-based company’s chair, said in a statement. The group’s ice cream unit generated 7.9 billion euros ($8.6 billion) in sales last year, or about 13 percent of the group’s total. The division is home to Ben & Jerry’s, which Unilever acquired in 2000, along with other brands like Cornetto, Magnum, Talenti and Wall’s. The spinoff is expected to be completed by the end of 2025.

Persons: ” Ian Meakins, Hein Schumacher Organizations: Unilever Locations: London

LONDON (AP) — Unilever, the company that makes Ben & Jerry’s ice cream, Dove soaps and Vaseline, said Tuesday that it is cutting 7,500 jobs and spinning off its ice cream business to reduce costs and boost profits. London-based Unilever said its ice cream business, which also includes Magnum bars, has “distinct characteristics” from its other brands and would benefit from separate ownership to increase growth. The British consumer goods company with 128,000 employees also said it is launching a “productivity program” that is expected to lead to a reduction of about 7,500 mostly office-based jobs worldwide. The company behind Hellman’s mayonnaise, Axe fragrances and Cif household cleaners said it is targeting underlying sales growth of mid-single digits after spinning off the ice cream business. It saw sales volume drop 3.6% in 2022 after jacking up prices 13.3% on average across its brands that year.

Persons: Hein Schumacher, ”, Richard Hunter Organizations: — Unilever, Unilever, London Stock Exchange Locations: London

☆ Unilever and Dell have shut down some sustainability marketing initiatives as big corporations embrace 'green hushing'
▼ + stars: | 2024-02-27 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +7 min

Late last month, computing giant Dell cut part of its marketing team that focused on sustainability and other ESG-related marketing roles, Business Insider has learned. This story is available exclusively to Business Insider subscribers. AdvertisementThis is feeding into a growing trend of "green hushing," where companies stop publicizing their sustainability efforts due to concerns around regulatory scrutiny or a consumer backlash, experts say. Other sustainability agencies have been absorbed into wider offerings, R3 EVP of delivery Sarah Tan told Business Insider. Leo Rayman, head of the sustainability consultancy and venture studio Eden Lab, said that the green hushing phenomenon could suggest a sign of maturity in the space.

Persons: we're, Hein Schumacher, hushing, Pimco, , Harriet Kingaby, Sarah Tan, Kingaby, Bud, Bud Light, influencer Dylan Mulvaney, Guy Parker, — that'll, Parker, Leo Rayman, Rayman, Townsend Organizations: Dell, Business, Unilever, JPMorgan, State, ACT Climate Labs, Media, Advertising Network, Brands, Green Guides, Standards Authority, ASA, BMW, Shell, Etihad Airways, Competition, Markets Authority, Eden, Sustainability

☆ Unilever’s sales decline in Indonesia because of anti-Israel boycotts
▼ + stars: | 2024-02-09 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +1 min

New York CNN —Unilever is the latest company to report a rough fourth quarter because of boycotts against the company over the war in the Middle East. The company, which makes Vaseline, Dove soaps, Rexona deodorant and other household staples, said that sales declined 15% in Indonesia in the last three months of last year. “In Indonesia, we saw double-digit sales decline in the fourth quarter as sales of several multinational companies were impacted by geopolitically focused consumer-facing campaigns,” said Unilever CEO Hein Schumacher in a call Thursday. Other companies made similar statements recently about boycotts in overseas countries. Brands, which owns KFC and Pizza Hut, said its chains’ “sales were impacted by the conflict in the Middle East region with varying degrees of impact,” which dented same-store sales growth in several countries.

Persons: deodorant, ”, Hein Schumacher, McDonald’s Organizations: New, New York CNN, Unilever, Consumers, Brands Locations: New York, Indonesia, Western, Gaza, “

☆ Unilever launches $1.6 billion buyback as CEO demands improvements
▼ + stars: | 2024-02-08 | by ( ) www.cnbc.com time to read: +3 min

Unilever launched a 1.5 billion euro ($1.6 billion) share buyback on Thursday after volumes increased for the first time in 10 quarters, although its CEO said its performance needs to improve. Unilever's shares rose as much as 4% on Thursday, hitting their highest point since it last reported earnings in October. Unilever said it expects "modest improvement" in underlying operating margin for the full year and underlying sales growth within its multi-year 3% to 5% range. The company reported a roughly 5% rise in fourth-quarter underlying sales, meeting analysts' average forecast, a company-provided consensus showed. Underlying fourth quarter price growth was 2.8% and underlying volumes were up 1.8%, rising for the first time since the second quarter of 2021.

Persons: Hein Schumacher, Charlie Huggins, Huggins Organizations: Unilever, Wealth Locations: Russia, Ukraine

☆ 'Consumers are still seeking more premiumized products,' says Unilever CEO
▼ + stars: | 2024-02-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Consumers are still seeking more premiumized products,' says Unilever CEOHein Schumacher, CEO of Unilever, discusses consumer behavior after the company's full-year results.

Persons: Hein Schumacher Organizations: Unilever

☆ Domino's pizza is the latest American product facing backlash in Asia amid the Middle East turmoil, exec says
▼ + stars: | 2024-01-26 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Read previewDomino's Pizza is the latest American brand to face blowback as some consumers change their buying habits in light of Israel's invasion of Gaza. Domino's Pizza Enterprises, a franchisee of the US company that operates Domino's restaurants in Australia, Europe, and Asia, said same-store sales in Asia fell an estimated 8.9% in the second half of 2023. Domino's Pizza Enterprises also operates in countries including Singapore, Japan and Taiwan. Spokespeople for Domino's Pizza Enterprises and Procter & Gamble did not immediately respond to Business Insider's request for additional comment. In an investor presentation last month, Unilever CEO Hein Schumacher said that some of its brands in Indonesia have been affected by "the wars in the Middle East."

Persons: —, America —, Donald Meij, Domino's, Gamble, McDonald's hasn't, Ian Borden, Borden, Hein Schumacher Organizations: Service, Business, Pizza Enterprises, Enterprises, Palestine, CNN, Israel, Procter & Gamble, Bloomberg, Starbucks, Domino's Pizza Enterprises, Procter, Reuters, Unilever Locations: Gaza, Australia, Europe, Asia, Malaysia, Singapore, Japan, Taiwan, Israel, Indonesia, Pakistan, pushback, Egypt, Jordan, London

☆ Here are Thursday's biggest analyst calls: Nvidia, Disney, Tesla, Instacart, Arm, Rivian, Target & more
▼ + stars: | 2023-11-09 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Thursday's biggest calls on Wall Street: Goldman Sachs initiates Apellis Pharmaceuticals as buy Goldman initiated the biotech company with a buy and says it sees "continued execution." Bank of America reiterates Disney as buy Bank of America said it's standing by its buy rating after Wednesday's earnings report. Goldman Sachs reiterates Arm as overweight Goldman said it's sticking with its buy rating after the stock's earnings report on Wednesday. Goldman Sachs reiterates Instacart as buy Goldman said it's sticking with its buy rating on the grocery delivery company after Instacart's earnings report on Wednesday. Morgan Stanley reiterates Rivian as overweight Morgan Stanley said it's sticking with its overweight rating on the electric vehicle company. "

Persons: Goldman Sachs, Goldman, Tesla, WK Kellogg, Kellogg, Wolfe, Instacart, Morgan Stanley, Rivian, Eli Lilly, MRK's Keytruda, Evercore, it's bullish, Parker, Wells, it's, Hein Schumacher Organizations: Apellis Pharmaceuticals, HSBC, Tesla, Barclays, JPMorgan, Bank of America, Disney, ARM, Deutsche Bank, Deutsche, Merck, pharma, TAP, Industrial, Nvidia, Anheuser, Busch InBev, Bud, Offshore, Unilever, OW, Citi Locations: North America, Montrose

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsLONDON, Nov 6 (Reuters) - Unilever (ULVR.L) top-10 investor Lindsell Train welcomed its recent management changes and said it had already discussed the consumer goods company's next steps with the incoming chairman. These moves demonstrated that Unilever thinks that a "fresh perspective on all aspects of the business is necessary", Nick Train, manager of the Finsbury Growth & Income Trust and co-founder of Lindsell Train, told Reuters. A bungled attempt to buy GSK's consumer healthcare business was followed by billionaire activist investor Nelson Peltz joining the board. "We maintain a productive open dialogue with the company and most recently met with the new (Unilever) chairman to hear his view on the most beneficial next steps," Train said. Matt Close, president of its ice cream business, will also leave after a more than three-decade career with Unilever.

Persons: Andrew Kelly, Nick Train, Hein Schumacher, Schumacher, Alan Jope, Nelson Peltz, Ian Meakins, Nils Anderson, Hanneke Faber, Priya Nair, Matt Close, Richa Naidu, Matt Scuffham, Alexander Smith Organizations: Unilever, REUTERS, Lindsell, Income Trust, Reuters, Thomson Locations: Manhattan , New York City, U.S, Finsbury

☆ The CEO of Unilever won't get a pay increase for 2 years after a backlash from shareholders
▼ + stars: | 2023-10-31 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Unilever CEO Hein Schumacher will have his pay frozen until 2026.will have his pay frozen until 2026. AdvertisementAdvertisementThe CEO of Unilever won't be able to get a pay rise until 2026 amid shareholder frustration, Bloomberg reported. The board's proposed pay package was rejected by shareholders at Unilever's annual general meeting in May, per Bloomberg. That's a nearly 20% increase on the fixed pay of the previous CEO, Alan Jope, from whom Schumacher took over in July. It means Schumacher won't be eligible for a pay increase in 2024 or 2025, and his fixed pay level will be reviewed by a compensation committee in 2026.

Persons: Hein Schumacher, Schumacher, —, That's, Alan Jope, Jope, Nelson Peltz, Terry Smith Organizations: Unilever, Service, Bloomberg, Reuters, Telegraph

☆ Unilever to freeze new CEO's fixed pay for two years
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

The company logo for Unilever is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., February 17, 2017. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSummaryCompanies Shareholders rejected resolution to adopt directors' pay in MayCEO's fixed pay level to be reviewed in 2026Oct 30 (Reuters) - Consumer goods company Unilever (ULVR.L) said on Monday its board had decided to freeze CEO Hein Schumacher's fixed pay for the next two years, after his initial pay package was rejected by shareholders in May. The pay deal for Unilever’s directors, including Schumacher, was rejected at its annual general meeting with a near 60% majority. Schumacher, who took up the role in July, will not be eligible for a fixed pay increase in 2024 and 2025. The compensation committee will review his fixed pay level in 2026.

Persons: Brendan McDermid, Hein Schumacher's, Schumacher, Nelson Peltz, Alan Jope’s, Anchal Rana, Devika Syamnath, Arun Koyyur Organizations: Unilever, New York Stock Exchange, REUTERS, Consumer, Thomson Locations: New York, U.S, Bengaluru

☆ New-look Unilever retains its old-style opacity
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +2 min

Unilever logo is displayed on Dove soap boxes in this illustration taken on January 17, 2022. Back in 2017 Unilever fought off a Kraft Heinz (KHC.O) takeover approach by pledging a 20% operating margin; now there just isn’t a target. But it leaves a question mark over Unilever’s long-term direction. And it might leave long-term critics like fund manager Terry Smith still griping about opacity. In January Smith complained that Unilever had revealed the price tag on only three of 27 acquisitions in its Beauty and Wellbeing division over eight years.

Persons: Dado Ruvic, Hein Schumacher’s, Kraft Heinz, Alan Jope, Terry Smith, Smith, Schumacher, George Hay, Peter Thal Larsen, Oliver Taslic Organizations: Unilever, REUTERS, Reuters, Kraft, X, Thomson

☆ Unilever's new CEO lays out plans to simplify business, shares fall
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +3 min

Klondike, a brand of Unilever, is seen on display in a store in Manhattan, New York City, U.S., March 24, 2022. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsLONDON, Oct 26 (Reuters) - Unilever's (ULVR.L) new chief executive Hein Schumacher on Thursday laid out long-awaited plans to simplify the business after admitting it had underperformed in recent years, but shares fell as some investors were unimpressed. Unilever reported a 5.2% rise in underlying sales, meeting analysts' average forecast, a company-provided consensus showed. Underlying price growth for the third quarter was 5.8% while underlying volumes were down 0.6%. The company also announced a senior executive shake-up, naming Fernando Fernandez, currently president of the beauty and wellbeing business, as its new chief financial officer.

Persons: Andrew Kelly, Hein Schumacher, Schumacher, Richard Saldanha, Alan Jope, Nelson Peltz, we've, Graeme Pitkethly, Fernando Fernandez, Richa Naidu, Mark Potter, Jason Neely Organizations: Unilever, REUTERS, Aviva, Thomson Locations: Manhattan , New York City, U.S, Europe

Since then, Unilever has worked to make Elida an autonomous unit that could also appeal in its entirety to private equity firms, the sources added. Morgan Stanley and Evercore have now contacted several parties to gauge acquisition interest in Elida for what could be a multi-billion-dollar deal, according to the sources. Unilever, Morgan Stanley and Evercore declined to comment. This has prompted Unilever, the maker of Dove soap and Ben & Jerry's ice cream, to review its portfolio of non-core assets it can sell to raise cash. Unilever beat underlying sales growth forecasts in the second quarter after raising prices to offset the higher costs.

Persons: Morgan Stanley, Hein Schumacher, Ives, Moussel, Alberto Balsam, Evercore, Abigail Summerville, Richa Naidu, Chizu Organizations: Unilever Plc, Evercore Inc, Unilever, Credit Suisse, Elida, Breyers, Thomson Locations: St, Zwitsal, Elida, Klondike, New York, London

Reuters GraphicsReuters spoke to four shareholders that have launched activist campaigns who said that some big consumer goods companies are ripe for executive changes after failing to impress. Reuters GraphicsMany large consumer goods companies generally hold low levels of debt and are cash generative, said André Medeiros, managing director and Alvarez & Marsal's EMEA consumer and retail leader. 'ADVOCATING FOR MANAGEMENT CHANGE'Gianluca Ferrari, founding partner of investor Clearway Capital, said his firm had some consumer companies on its radar but declined to name them. He did not identify specific executives nor disclose the nature of his work with consumer companies. In October, Reuters reported that Peltz had approached former CEOs of consumer goods companies as candidates for the Unilever top job.

Persons: Danone's, Emmanuel Faber, David Samra, Samra, Alvarez, Marsal, André Medeiros, Nelson Peltz, Artisan's Samra, We're, Peltz, Heinz, Gianluca Ferrari, Ferrari, Clearway, Glanbia, Faber, Bluebell, Nicolas Ceron, Ceron, underperformance, Kraft Heinz, KHC.O, Andrew Hayes, Russell Reynolds, John Long, Korn, Long, Alan Jope departure's, Unilever's, Graeme Pitkethly, Hein Schumacher, Heinz's, Bill Johnson, Nelson, Richa Naidu, Matt Scuffham, Daniel Flynn Organizations: Artisan Partners, Reuters, Danone, Evian, Unilever, Consumer Products, Reuters Graphics Reuters, Reuters Graphics, Marsal's EMEA, Billionaire, Artisan, Cadbury Schweppes, Heinz, Trian, Bluebell Capital, shareholders, Bluebell, Diageo, Russell Reynolds Associates, Thomson Locations: York, H.J, Frankfurt, Western Europe, North America

☆ Why are so many Western firms staying put in Russia, despite the rising risks?
▼ + stars: | 2023-07-26 | by ( Hanna Ziady | ) edition.cnn.com time to read: +6 min

London CNN —When Russia launched its full-scale invasion of Ukraine in February 2022, a slew of Western companies left in protest. Companies now find themselves caught between Western sanctions and public outrage on the one hand, and an increasingly hostile Russian government on the other. The Kremlin is making it more difficult for Western firms to sell their Russian assets — and imposing steep discounts and punitive taxes when they do. Both companies had been finalizing sales to local buyers when President Vladimir Putin signed an order nationalizing their local assets earlier this month. Spurred by sweeping Western sanctions, oil companies, automakers, technology firms, consultancies and banks led the initial wave of departures.

Persons: —, Vladimir Putin, Carlsberg, Maria Shagina, Andrey Rudakov, Konstantin Zavrazhin, Hein Schumacher, Schumacher, ”, ” Procter, Gamble, ” Mondelez, Fortum Oyj, Jeffrey Sonnenfeld, ” Sonnenfeld, — Olesya Dmitracova Organizations: London CNN, Nestlé, Heineken, Companies, Danone, Carlsberg, Breweries, International Institute for Strategic Studies, CNN, Bloomberg, Getty, Yale University, Yale, Unilever, UL, Procter, Gamble, Treasury, Foreign, Control, Carlsberg — Locations: Russia, Ukraine, Lyubuchany, Rosneft, Moscow, Russian

☆ Unilever quarterly sales beat estimates, boost shares
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Dado Ruvic/Illustration/File PhotoSummaryCompanies Underlying sales, price, volume growth beat forecastsPast peak cost inflation -finance chiefFocus is on volume growth -finance chiefShares jump 5%LONDON, July 25 (Reuters) - Unilever (ULVR.L) on Tuesday beat underlying sales growth forecasts after again raising prices to offset higher costs, boosting shares in the maker of Dove soap and Ben & Jerry's ice cream. The British company reported a 7.9% rise in underlying second-quarter sales, beating analysts' average forecast of 6.4%, a company-provided consensus showed. The company said it expects underlying sales growth for the full year to be above 5%, ahead of its multi-year range, with underlying price growth continuing to moderate through the year. Unilever said the percentage of its "business winning market share" had reduced to 41%. The metric assesses what percentage of the company's revenue is coming from areas in which it is gaining market share on a rolling 12-month basis.

Persons: Dado Ruvic, Hein Schumacher, Alan Jope, Jochen Kurz, Alan, Kurz, Graeme Pitkethly, Janus Henderson, Bernstein, Bruno Monteyne, Hein Schumacher’s, Richa Naidu, Jason Neely Organizations: REUTERS, Unilever, British, Kurz, Rivals, Nestle, Thomson Locations: Russia, Ukraine

☆ The world’s biggest ice cream company says heat waves may not help sales
▼ + stars: | 2023-07-25 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —Can it ever be too hot for ice cream? “When it gets too hot, people move away from ice cream and buy a cold drink instead,” he said. The consumer goods giant commands a fifth of global ice cream sales, according to Euromonitor. The company’s overall ice cream sales grew 5.7% in the first half of the year in value terms, compared with the same period in 2022. Price rises across Unilever’s products helped push up its sales by 9.1% in the first half, even though volumes fell marginally.

Persons: Cornetto, ”, Graeme Pitkethly, Jerry’s, Carte d’Or, Hein Schumacher, Schumacher —, FrieslandCampina — Organizations: London CNN, Unilever, UL, Health Locations: Europe, Spain, Italy, Greece, Ukraine

Moscow's actions highlight the vulnerability of other consumer products companies that still have operations in Russia, some of which have announced plans to leave. "The second option is to sell the business, but the reality is, we have not found a viable solution that meets our stated objectives." The company, which owns the Knorr soup and Dove soap brands, employs over 3,000 people in Russia. In March 2022 Unilever became the first major European food company to stop imports into and exports out of Russia after the country's invasion of Ukraine. Former CEO Alan Jope said at the time "volumes in our Russian business are down significantly, by double digits".

Persons: Hein Schumacher, Schumacher, Knorr, Alan Jope, Richa Naidu, Jason Neely Organizations: Unilever, Danone, Carlsberg, Thomson Locations: Russia, Russian, Ukraine

May 30 (Reuters) - Unilever Plc (ULVR.L) said on Tuesday Chief Financial Officer Graeme Pitkethly would leave the consumer goods giant by the end of May 2024 after more than two decades. Pitkethly, who has been with the maker of Dove soap since 2002, succeeded Jean-Marc Huët as finance chief in 2015. The 56-year-old previously served as executive vice president of Unilever's UK and Ireland business, including head of M&A and head of treasury. Unilever, which did not say why Pitkethly planned to "retire from the company", said it would proceed with a formal internal and external search for his successor. "Eight years as CFO of a multinational is a decent time and retiring in May 2024 should enable a useful handover to a new CFO."

☆ Unilever Tries Reformulating Its Ice Cream to Survive Warmer Freezers
▼ + stars: | 2023-02-22 | by ( Katie Deighton | ) www.wsj.com time to read: +6 min

Keeping ice cream at 10 degrees as opposed to zero will reduce energy use and greenhouse gas emissions by roughly 20% to 30% per freezer, it said. Unilever’s out-of-home ice cream sales declined slightly during the fourth quarter of 2022 because, the company said, some stores unplugged their freezers sooner in the year than usual. Higher temperatures can lead to softer ice creams that stick to wrappers and slide off ice cream sticks, for example, said Andrew Sztehlo, chief research and development officer for Unilever’s ice cream division. The warming program isn’t designed to sweat competitors out of Unilever freezers, which some shopkeepers fill with an assortment of brands that don’t carry the Unilever logo, Mr. Sztehlo said. Representatives from ice cream makers Nestlé SA, Mars Inc., General Mills Inc. and Froneri International Ltd. declined to comment.

☆ Unilever fourth-quarter sales boosted by higher prices
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +2 min

LONDON, Feb 9 (Reuters) - Unilever Plc (ULVR.L) on Thursday reported quarterly underlying sales growth above expectations, helped by higher prices for its detergents, soaps and packaged food. The packaged goods industry has raised prices sharply over the past year to cope with surging costs of everything from cocoa and sunflower oil to wheat. "In the first half, underlying price growth will remain high, and volume growth will be negative," Unilever said in a statement. "Volume will improve as price growth softens, but it is too early to say whether volume will turn positive in the second half." Underlying sales at Unilever rose 9.2% in the fourth quarter, beating company-provided analyst estimate of a 8.2% increase.

☆ Unilever says prices hikes will continue into this year, easing in H2
▼ + stars: | 2023-02-09 | by ( ) www.cnbc.com time to read: +3 min

Bottles of Dove body wash, produced by Unilever Plc, at an Iceland Foods Ltd. supermarket in Christchurch, UK, on Wednesday, June 15, 2022. Unilever Plc said on Thursday it would continue to raise prices for its detergents, soaps and packaged food to offset rising input costs, and ease up those hikes in the second half of 2023. The packaged goods industry has hiked up prices over the past year to cope with surging costs of everything from cocoa and sunflower oil to wheat. The industry had already been battling Covid-era supply chain issues and raw material expenses when Russia invaded Ukraine, further boosting prices of energy and other commodities. Underlying sales at Unilever rose 9.2% in the fourth quarter, beating a company-provided analyst estimate of an 8.2% increase.

LONDON, Jan 30 (Reuters) - Incoming Unilever CEO Hein Schumacher gets seasick, according to his former boss at food group Heinz, but that never stopped him joining executive sailing trips and sticking them out. Heinz Company from 2006 to 2013 and was impressed by his leadership skills and business acumen," Peltz said. "Why hire a food exec if you are planning to sell the food business?" "Selling the food business will always be on the cards, but I doubt that it is top priority in the short term." "He's been given a very tough assignment but I have every confidence that if anyone could get Unilever moving in right direction, it's Hein," Johnson said.

Search resuls for: "Hein Schumacher"

25 mentions found