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  • 06 Mar 2025

New CEO fireside: no skeletons


Unilever PLC (ULVR:LON) | 4,550 0 0.0% | Mkt Cap: 111,549m


  • BNP Paribas Exane
    • Stent Jeff JS

    • 9 pages


 

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New CEO fireside: no skeletons


Unilever PLC (ULVR:LON) | 4,550 0 0.0% | Mkt Cap: 111,549m


  • Published: 06 Mar 2025
  • Author: Stent Jeff JS
  • Pages: 9
  • BNP Paribas Exane


BNPP Exane View: an impressive call. To quote ''there are no skeletons in the closet''. Notes from new CEO fireside chat . Why the mgmt. change: Hein did a really good job, the Board fully endorses his path. It is a forward looking decision, the Board believes that for the next phase, making Unilever world class, my skill set and track record is a better fit. As to timing: the question for the Board was why wait, the faster the better? . Relationship with Pelz and the Chairman: Have good relationships with all Board members. Nelson and Ian have a tonne of experience and their insights tend to be spot-on, I listen to them a lot. However I am not a Nelson or Ian person, I am a Board person and my own person; . Slow Q1: There are no skeletons in the closet, we reaffirm our guidance for the FY and the mid-term. The GAP is working. Called out a slow start (markets, subdued pricing, confidence down, tariffs) as did many companies. Are landing one of the best innovation plans in a long period between March and April. China and Indonesia will contribute to growth in H2. The Indian government has taken significant measures to stimulate the economy. . Unlocking long-term value: About creating a machine of demand creation. Score us 6 on a 1 to 10 scale and 10 does not exist. Want to build a marketing shift, with a decisive shift to premium, desire to scale. Are committed to revolution in our sensorials, aesthetics. The US and India should be our long-term anchors; . Pace of change: Have been in the company 37 years and have never met an employee that says we are going too fast, usually the opposite. Believe we have great talent and want to shift the company forward and that everyone in Unilever is focused on creating demand, that is how I have run businesses for 20 years; . Past experience: Like to concentrate resources where I see a significant profit pool and where we have the right to win. Believe in productivity as a habit and not as a programme, there...

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