Unilever Names New CEO; Sexy Hair’s $2.3m ‘Sulfate-Free’ Settlement; More Cosmetics News In Brief

Unilever PLC CEO Paul Polman is headed for retirement after 10 years at the Anglo-Dutch firm, turning the wheel over to Alan Jope, currently Beauty & Personal Care president. The change will go into effect Jan. 1, and Polman will assist with the transition through June 2019, according to Unilever’s Nov. 29 announcement. “Paul is an exceptional business leader who has transformed Unilever, making it one of the best-performing companies in its sector and one of the most admired businesses in the world,” says Chairman Marijn Dekkers. In a same-day note, Jefferies analyst Martin Deboo calls Jope a “capable executive” and an “affable and accessible figure,” but notes that he currently runs the division that will be central to Unilever’s efforts to re-accelerate growth going forward. “Jope has presided over a slowdown here, from the double-digits delivered under his predecessor … to mid singles now.” Deboo adds that while Jope may be a refreshing change of pace after the “aloof” Polman and his confrontational style, Polman had a powerful vision for the company, something that Jope will have to cultivate.

In its release, the company highlights Jope’s experience leading Unilever business segments in both developed and emerging markets, including stints at the head of its North Asia and Africa, Russia & Middle East units