THE WHAT? Unilever CEO, Alan Jope has announced that he intends to retire from the company at the end of next year. The Board will now proceed with a formal search for a successor and will consider both internal and external candidates.

THE DETAILS Unilever Chairman Nils Andersen said: “Unilever has seen improved performance, enabled by its clear strategic choices and a significant company transformation. The Board will now conduct an orderly succession process and support Alan and the management team in further driving the performance of Unilever.

“Alan’s retirement next year will mark the end of a remarkable career with Unilever. Under his leadership, Unilever has made critical changes to its strategy, structure and organisation that position it strongly for success. This work continues, and we will thank Alan wholeheartedly for his leadership and contribution to our business when he leaves next year.”

THE WHY? Jope commented, “As I approach my fifth year as CEO, and after more than 35 years in Unilever, I believe now is the right time for the Board to begin the formal search for my successor. Growth remains our top priority, and in the quarters ahead I will remain fully focused on disciplined execution of our strategy, and leveraging the full benefits of our new organisation.”