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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

Ben & Jerry's, a brand of Unilever, is seen on display in a store in Manhattan, New York City, U.S., March 24, 2022. While Ben & Jerry's board oversees its social mission, Unilever retained authority over financial and operational decisions when it bought the ice cream company in 2000. Founded in 1978, Ben & Jerry's has long positioned itself as socially conscious. It said in July 2021 that selling ice cream in the occupied Palestinian territories was "inconsistent with our values." In 2022, Unilever sold its interest in Ben & Jerry's operations in Israel.

Persons: Jerry's, Andrew Kelly, Lorna Schofield, Schofield, Ben, Jody Godoy, Jonathan Stempel, Cynthia Osterman Organizations: Unilever, REUTERS, Unilever Plc, Ben, West Bank, District, Unilever American, Clair Shores Police, Court, Southern District of, Thomson Locations: Manhattan , New York City, U.S, Manhattan, Palestinian, Michigan, East Jerusalem, St, Clair Shores, Israel, The Vermont, Southern District, Southern District of New York, New York

☆ Illumina CEO deSouza resigns after proxy battle with Icahn
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +3 min

The Grail deal "has kept a lot of investors out of the stock" TD Cowen analyst Dan Brennan said. The company's shares have lost about 60% of their value since completing the Grail deal in 2021. Illumina shares closed at $200.53 on the Nasdaq on Friday. Icahn has said he wants former Illumina CEO Jay Flatley to return. He had secured more than twice the number of shareholder votes than his challenger received in the proxy vote, which could have given him enough legitimacy to hang on.

Persons: Francis deSouza, Carl Icahn, Icahn, Illumina, Charles Dadswell, DeSouza, deSouza's, Cowen, Dan Brennan, Francis, John Thompson, Andrew Teno, Jay Flatley, Vicki Hollub, Alan Jope, Management's Nelson Peltz, Lavanya, Caroline Humer, Michael Erman, Anirban Sen, Mark Porter, Marguerita Choy, Edwina Gibbs Organizations: Nasdaq, LinkedIn, Unilever Plc, U.S . Federal Trade Commission, Thomson Locations: Illumina, Occidental, Bengaluru, New York, New Jersey

☆ Illumina CEO deSouza resigns after battle with Icahn
▼ + stars: | 2023-06-11 | by ( ) www.reuters.com time to read: +3 min

Analysts said they expect the company's shares to trade up on Monday morning after deSouza's resignation. The Grail deal "has kept a lot of investors out of the stock" TD Cowen analyst Dan Brennan said. The company's shares have lost about 60% of their value since completing the Grail deal in 2021. Illumina shares closed at $200.53 on the Nasdaq on Friday. Icahn has said he wants former Illumina CEO Jay Flatley to return.

Persons: Francis deSouza, Carl Icahn, Illumina, Charles Dadswell, DeSouza, Icahn, deSouza's, Cowen, Dan Brennan, Francis, John Thompson, Andrew Teno, Jay Flatley, Vicki Hollub, Alan Jope, Management's Nelson Peltz, Lavanya, Caroline Humer, Michael Erman, Anirban Sen, Jason Neely, Jan Harvey, Mark Porter, Marguerita Choy Organizations: Nasdaq, LinkedIn, Unilever Plc, U.S . Federal Trade Commission, Thomson Locations: Occidental, Bengaluru, New York, New Jersey

☆ Illumina CEO Francis DeSouza resigns after battle with Icahn
▼ + stars: | 2023-06-11 | by ( ) www.reuters.com time to read: +2 min

June 11 (Reuters) - Illumina (ILMN.O) Chief Executive Officer Francis DeSouza stepped down on Sunday, the gene-sequencing machine maker said in a statement, ending a battle with activist investor Carl Icahn in which the company's chairman left the company earlier this year. Illumina said it named Senior Vice President and General Counsel Charles Dadswell as interim CEO. Icahn in a tweet said he is happy with the recent changes at Illumina and considers them a "very positive occurrence." Icahn has said he wants former Illumina CEO Jay Flatley to return. Vicki Hollub, for instance, remains Occidental Petroleum's (OXY.N) CEO after the company cut a deal with Icahn over board seats in 2020 and after Icahn cashed out two years later.

Persons: Francis DeSouza, Carl Icahn, Illumina, Charles Dadswell, DeSouza, Icahn, John Thompson, Andrew Teno, Jay Flatley, Vicki Hollub, Alan Jope, Management's Nelson Peltz, Lavanya, Caroline Humer, Anirban Sen, Jason Neely, Jan Harvey, Mark Porter Organizations: LinkedIn, Unilever, U.S . Federal Trade Commission, Thomson Locations: Occidental, Bengaluru, New York

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."

LONDON/BERLIN, May 30 (Reuters) - Nestle (NESN.S), the world's biggest packaged food company, said on Tuesday it had hired the London Stock Exchange Group's (LSEG) finance chief Anna Manz as its new chief financial officer. Manz will replace Francois-Xavier Roger, who the company said is stepping down to "pursue new professional challenges" after eight years in the role. Nestle, whose more than 2,000 brands include Kit Kat, Haagen-Dazs and Nescafe, said Manz will join Nestle as soon as she is released from her current duties. "We trust that Anna will pursue Francois' legacy, considering her strong career at Diageo," Vontobel analyst Jean-Philippe Bertschy said. Rival Unilever Plc (ULVR.L) also said on Tuesday that CFO Graeme Pitkethly would leave the consumer goods giant by the end of May 2024 after more than two decades.

☆ FTSE 100 edges up as consumer stocks offset Vodafone slump
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100 up 0.2%, FTSE 250 adds 0.1%May 16 (Reuters) - UK's main stock index edged up on Tuesday as weakness in the sterling supported some internationally-focused consumer firms, although Vodafone slumped after it forecast a big drop in fresh cash flow. The telecom giant's stock (VOD.L) fell 4% to become the top decliner on the FTSE 100 (.FTSE) after the company announced job cuts and forecast a 1.5 billion euro ($1.65 billion) decline in free cash flow this year. However, the blue-chip FTSE 100 rose 0.2% and the mid-cap FTSE 250 (.FTMC) added 0.1%. The currency's weakness lifted shares of dollar earners like Unilever Plc (ULVR.L) and British American Tobacco Plc (BATS.L). Industrial metals miners (.FTNMX551020) slipped 0.2%, tracking easing copper prices on investor worries of patchy economic recovery in top consumer China.

☆ European shares edge lower as banking jitters resurface
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +1 min

April 27 (Reuters) - European shares edged lower on Thursday, despite a raft of positive corporate earnings, as troubles at U.S. lender First Republic Bank continued to rattle investors over the global banking sector. The pan-European STOXX 600 index (.STOXX) was down 0.1% by 0720 GMT. The index was dragged lower by media shares (.SXMP), which dropped 1.6%, while Universal Music Group (UMG.AS) fell 4% after it posted a slump in its first-quarter core profit. Worries over the banking sector unnerved investors as shares of First Republic Bank (FRC.N) sank almost 30% on Wednesday, hitting a record low for the second consecutive day. Still, banking shares (.SX7P) rose 0.4%, led by Barclays Plc (BARC.L) that climbed 2.4% on an estimate-beating quarterly profit, as a resilient performance from its consumer bank offset pressure on key other business lines.

SummarySummary Companies Britain's house prices show weak rise in AprilBunelm gains on Stifel upgradeMedica Group surges on buyout dealFTSE 100 down 0.2%, FTSE 250 adds 0.2%April 24 (Reuters) - London's FTSE 100 fell on Monday as energy stocks and base metal miners lost ground on weak demand outlook, while caution set in ahead of a busy week of earnings. Oil giants BP (BP.L) and Shell (SHEL.L) lost 0.9% and 1.2%, respectively, as crude prices fell more than 1% on concerns about rising interest rates, global economic slowdown and fuel demand outlook. The FTSE 100 (.FTSE) fell 0.2%, while the mid-cap FTSE 250 (.FTMC) was up 0.2%, as of 0821 GMT. Growth companies, including Microsoft Corp (MSFT.O), Google parent Alphabet Inc (GOOGL.O) and Amazon.com Inc (AMZN.O), are scheduled to report their earnings this week. The FTSE 100 logged its fifth consecutive weekly rise on Friday, marking its longest streak of weekly gains in more than a year, buoyed by commodity stocks, even as weak global economic growth outlook keeps investor sentiment subdued.

[1/2] Tide laundry detergent is shown on display in Compton, California, U.S., January 10, 2017. Fabric and family care, which includes the paper products, are among the company's biggest businesses. P&G's margins, a key sign of profitability investors closely watch, could take a hit if the company continues with heavier discounts. “Tide is who we would benchmark, and we’re seeing more discounts with them, and the category at large among bigger players.”Whritenour added that discounts are now deeper and more competitive. Market research firm Circana is forecasting discounts will continue to grow this year across household products as consumers face a darkening economic situation.

☆ Nestlé Says Less Than Half of Its Main Portfolio Is Ranked as Healthy
▼ + stars: | 2023-03-21 | by ( Joshua Kirby | ) www.wsj.com time to read: +3 min

Nestlé SA promised it will work to boost the nutritional value of its snacks, drinks and food products, after most of its portfolio was rated as unhealthy. Less than half of Nestlé’s main food-and-drink portfolio is considered healthy, according to the results of an international nutrient profiling system that the Swiss food company published for the first time. Nestlé started using it last year with the aim of boosting transparency about the nutritional value of its products. “Our focus is on improving the nutritional value of our products,” Nestlé said. The rankings from the Access to Nutrition Initiative rate companies on their practices and disclosure, including on ensuring healthy products and influencing consumer choices.

☆ Chief of Digital Freight Startup Transfix Steps Down
▼ + stars: | 2023-03-02 | by ( Paul Berger | ) www.wsj.com time to read: +3 min

Digital freight startup Transfix Inc. said on Thursday that Chief Executive Lily Shen was stepping down and would be succeeded by the company’s co-founder and chief technology officer, Jonathan Salama. “I understand the challenges, and Lily and I have a strong plan for the future.”Lily Shen has resigned as chief executive of digital freight broker Transfix. Jonathan Salama is a co-founder and the new chief executive of Transfix. In place of the SPAC, G Squared and another Transfix backer, New Enterprise Associates Inc., led a private funding round. She became chief operating officer the same year and in 2020 took over as chief executive.

[1/3] Ben & Jerry's, a brand of Unilever, is seen on display in a store in Manhattan, New York City, U.S., March 24, 2022. Eliminating less popular products is part of a "decomplexity program" underway at Kraft Heinz, its executives said at the Consumer Analyst Group of New York Conference this week. Nestle said cutting products saved 1 billion Swiss francs last year ($1.06 billion), while Unilever said the practice saved $2 billion. At the consumer products conference they highlighted new offerings, many of them increasingly popular handheld foods that people can eat while scrolling on phones. "You'd be shocked by the loyalty and personal connections people have to food products," he said.

[1/3] Ben & Jerry's, a brand of Unilever, is seen on display in a store in Manhattan, New York City, U.S., March 24, 2022. Nestle said cutting products saved 1 billion Swiss francs last year ($1.06 billion), while Unilever said the practice saved $2 billion. Food makers tend to cull products without much fanfare. At the consumer products conference they highlighted new offerings, many of them increasingly popular handheld foods that people can eat while scrolling on phones. "You'd be shocked by the loyalty and personal connections people have to food products," he said.

☆ 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.

"Consumers are looking for convenient, filling, and nutritious meals, while at the same time paying more attention to the price tag," Kraft's chief executive Miguel Patricio said, adding the company would halt fresh price hikes in North America, Europe, Latin America and most of Asia. Retailers have also been increasingly opposing food manufacturers' price hikes. Last year, Kraft briefly stopped supplying some products to Tesco (TSCO.L) due to pricing disagreements with the British supermarket chain. It said average selling prices rose 15.2 percentage points in the fourth quarter, while sales volumes declined 4.8 percentage points. Net sales rose 10% to $7.38 billion, beating the estimate of $7.27 billion.

☆ The 2023 Super Bowl Ads Will Feature Booze, Betting and Jesus
▼ + stars: | 2023-02-10 | by ( Megan Graham | Patrick Coffee | ) www.wsj.com time to read: +10 min

The Super Bowl ads on Sunday are poised to promote an unusual mix of alcohol brands, gambling and Jesus. The Super Bowl still regularly draws an audience of around 100 million people, making it TV’s biggest event of the year and advertising’s biggest night. Planters’ Super Bowl ad features comedians mocking Mr. Peanut. The ads are likely to strike a lighter tone than the occasionally somber messages of Super Bowl ads in recent, highly politicized years or the early pandemic, said Anjali S. Bal, an associate professor of marketing at Babson College. Many Super Bowl advertisers have again released their ads well before Super Bowl Sunday to increase their chances of being seen.

☆ 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.

☆ Unilever to build Mexico plant as part of $400 mln investment
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Feb 7 (Reuters) - Unilever Plc (ULVR.L) will build a manufacturing plant in the northern Mexican border state Nuevo Leon as part of a $400 million investment in the country over the next three years, the company said on Tuesday. The plant, which will be located in Salinas Victoria on the outskirts of Monterrey, will manufacture beauty and personal care products, Unilever said. Unilever already operates four plants in the country, which is a key center for exports to other nations, the company said. The newest plant is set to open in 2024, Unilever said. Reporting by Kylie Madry in Mexico City Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Unilever Taps Dairy Boss as New CEO
▼ + stars: | 2023-01-30 | by ( Peter Stiff | ) www.wsj.com time to read: 1 min

Unilever is looking to boost growth across its sprawling portfolio, while grappling with rising input costs and changing consumer trends. Unilever PLC has appointed Hein Schumacher as its new chief executive, tapping the head of a European dairy cooperative to lead its effort to reinvigorate growth and navigate economic uncertainty. The owner of Ben & Jerry’s ice cream and Dove soap said Monday that Mr. Schumacher would become CEO on July 1. He succeeds incumbent Alan Jope, who the company said in September would retire this year.

☆ Companies Rush to Trace Sprawling Supply Chains as Sustainability Rules Loom
▼ + stars: | 2023-01-24 | by ( Dieter Holger | ) www.wsj.com time to read: +5 min

The rules come as businesses, especially small and midsize companies, have a limited view of their supply chains and are struggling to broaden their oversight, sustainability analysts say. Imagine that in the landscape of supply chain,” said Tim Constable, partner at law firm Dentons advising companies on supply chains. There are a host of other regulatory developments threatening to affect companies’ supply chains. Photo: Chris Ratcliffe/Bloomberg NewsUnilever has a sprawling global supply chain, with around 54,000 suppliers in 150 countries. It doesn’t matter how sophisticated the program is.”Internet-of-things startups can go beyond aggregating data and instead track actual items.

☆ Cramer's lightning round: TransMedics is a total winner
▼ + stars: | 2023-01-18 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

Loading chart...HighPeak Energy Inc : "HighPeak's a very inexpensive stock. Loading chart...TransMedics Group Inc : "I'd wait for a little bit of a pullback, but I think this is a total winner." Loading chart...Virgin Galactic Holdings Inc : "I kind of never thought I'd say this, but as a spec, that sounds darn good." Loading chart...BHP Group Ltd : "Wait a couple of days, then ... pull the trigger." Loading chart...Unilever PLC : "I think it's a very well-run company.

[1/3] The logo of the Times Square Disney store is seen in Times Square, New York City, U.S. December 5, 2019. Peltz, a billionaire activist who operates via his Trian Partners hedge fund, called for Disney to cut costs and turn a profit at its Disney+ streaming business, which has been losing money despite expanding at a fast clip. Its shares sank last year as losses deepened in its streaming business, and the price is now less than half the stock's 2021 high. Disney, Trian said, had overpaid for the assets of 21st Century Fox and bid aggressively for pay-TV giant Sky PLC. Disney said Trian would file with the Securities and Exchange Commission on Thursday to elect Peltz for a board seat in opposition to the company's nominees.

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