THE WHAT? As part of its recently announced action plan to ‘drive growth and unlock potential’, Unilever is dialling back on its pursuit of ‘purpose’ for some of its brands.
THE DETAILS New CEO Hein Schumacher outlined the plan during the UK-based FMCG manufacturer’s Q3 results presentation, noting that the company would no longer force-fit purpose in every brand.
THE WHY? The owner of Dove noted, “Only some brands need a social or environmental purpose to support their unmissable superiority.” The move, Schumacher said, was part of a mission to simplify and prioritise its focus and energies. Several media outlets have speculated that the dampening down of its ESG agenda for some brands is also designed to appease investors.