Unilever Names New CEO
Anglo-Dutch food and consumer products giant Unilever PLC said it was reorganizing under the leadership of a single chief executive.
The head of the company's British branch, Patrick Cescau, will become the new CEO, and the head of its Dutch operations will become the non-executive chairman, the Wall Street Journal reported.
The company will consolidate its two headquarters, one in London and the other in Rotterdam, at a location to be announced later this year.
Unilever has been run by two CEOs since 1930.
In addition, M.S. Banga, the non-executive chairman of Hindustan Lever Ltd. (HLL), has been elevated as the head of worldwide food business of Unilever. He will continue working as non-executive chairman of the Indian subsidiary, an HLL release said.
In April 2004, Banga was made business group president of home and personal care business in Asia. K.B. Dadiseth, former HLL chairman and a member of Unilever board, is slated to retire in mid-2005, coinciding with annual general meeting of global consumer product company.
Harish Manwani, another HLL manager working as president of Unilever's home and personal care business in America, will now head the Asia-Africa region with a seat on the new apex management team, an HLL official said.