Unilever names Nestle's Polman as new CEO
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Thu, 04 Sep 2008 06:43:10 GMT |
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LONDON (Reuters) - Anglo-Dutch consumer goods group Unilever Plc/NV named Paul Polman, outgoing head of the Americas at Swiss food group Nestle SA , as its new chief executive to replace Patrick Cescau.Polman, 52, had been long seen as front runner to succeed Peter Brabeck-Letmathe as Nestle's chief executive, but the world's biggest food group picked former Americas head Paul Bulcke instead last September. He will take up the new post at the end of the year.Unilever, which makes Sunsilk shampoo, Hellmann's mayonnaise and Dove soap, said on Thursday Cescau, who turns 60 on September 27, would retire at the end of the year after working at the business for 35 years and leading it for the last four.Polman joined Nestle in 2006 as chief financial officer. Prior to that he had a 26 year career at Procter & Gamble , heading up the U.S. consumer goods group's European business from 2001 to 2005."He is a great talent with significant international experience and an excellent track record," Unilever Chairman Michael Treschow said in a statement."He has all the attributes necessary to build on Patrick's achievements."Unilever shares, which tumbled in July after the group reported that price rises had slowed sales growth, closed at 1,490 pence on Wednesday, valuing the business at about 19.9 billion pounds ($35.4 billion).(Additional reporting by Sven Egenter in Zurich; Reporting by Mark Potter and David Holmes)
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