Unilever is looking to appoint a new Chairman to replace Michael Treschow, according to a Sky News report. The company is yet to confirm whether it is looking beyond its pool of non-executive directors, but is said to have hired head-hunting firm Russell Reynolds Associates and is expected to announce the name of the successful candidate by the end of 2015.

Treschow, who has been Chairman of the Dutch FMCG giant since 2007, will be replaced in time for the company’s annual general meeting. “Non-executive directors normally serve for a maximum of nine years,” said a Unilever spokesperson of the change in personnel. “Succession planning for the next Chairman is in place and ongoing. The Nominating and Corporate Governance Committee and the Board spends considerable time looking at the Non-Executive Directors and Chairman succession.”

The company’s Chief Financial Officer Jean-Marc Huët is due to step down in October to be replaced by Graeme Pitkethly.