Unilever is said to be searching for a new CEO as current Chief Paul Polman is rumoured to be standing down, according to reports published by the Times and Reuters.

According to the Times, Unilever has appointed a headhunter based in the City of London to search for Polman’s successor, suggesting the Anglo-Dutch FMCG giant may appoint an external candidate for the second time. However, the Times also points out that any newcomer will face stiff competition in the face of CFO Graeme Pitkethly and Alan Jope, Head of Personal Care – both tipped to be in line for the top job.

Polman, who joined Unilever in 2009, is expected to remain in situ for up to 18 months as his successor is appointed.