Unilever announced CEO Paul Polman has decided to retire from the company.
Alan Jope, currently President, Beauty & Personal Care, was appointed to the position, effective 1 January 2019, with Polman supporting the transition process during the first half of the year.
Paul Polman has been Unilever CEO for over ten years and has worked in the consumer goods industry for almost four decades.
During his tenure, the company delivered consistent top and bottom line growth ahead of its markets.
Its focus on successfully pioneering a new model of sustainable growth has served the needs of its many stakeholders and created excellent returns for its shareholders, delivering a total shareholder return of 290% over that period.
Alan Jope, 54, led Beauty & Personal Care, Unilever's largest Division, since 2014 and has been on the company's leadership executive since 2011.
He has an excellent track record of leading Unilever's business in both developed and emerging markets, having run the company's North Asia business for four years, served as President, Russia, Africa & Middle East, and spent over a decade in senior foods, home care and personal care roles for Unilever US. Alan joined the company as a graduate marketing trainee in 1985.
Polman will retire as CEO and as a board member on 31 December 2018. He will support the transition process in the first half of 2019 and will leave the company in early July.
A successor to the role of President, Beauty & Personal Care will be announced shortly.