Graeme Evans
CONSUMER products giant Unilever yesterday announced the departure of chief executive Patrick Cescau after 35 years with the company.
Cescau, who will be 60 later this month, took the helm in 2004 and has been credited with reviving the fortunes of the Anglo-Dutch business, which sells brands including Flora, Persil and Dove soap.
The chief executive position is expected to be filled by 52-year-old Paul Polman, who is currently Americas director for food giant Nestle. His appointment is subject to confirmation by shareholders this autumn.
Cescau joined Unilever in 1973 and was appointed chairman of Unilever plc and deputy chairman of Unilever's Dutch entity in October 2004. Unilever changed its management structure in April 2005 to one with a single non-executive chairman and a single chief executive.
He has been credited with changing the company's fortunes through a significant restructuring under the title "One Unilever". The firm employs 8000 staff in the UK.
Michael Treschow, chairman of Unilever, said: "Patrick has had an outstanding career. We are greatly in his debt for the transformation he has brought about over the last four years. The performance of the business has improved markedly under his leadership.
"Liked and admired in equal measure, Patrick leaves a substantial record on which to build."
He also described Polman, who had a 26-year career at Procter & Gamble, as a "great talent with significant international experience and an excellent track record".
Cescau recently reported pre-tax profits for Unilever of 3.14bn (£2.48bn) in the six months to June 30, a 21% hike on a constant currency basis.
Cescau said yesterday: "Four years ago we set out to transform Unilever and to get the business back on track. I believe that phase of work is largely complete, so now is exactly the right time to pass on the baton.
"It has been an extraordinary privilege to lead such a great business. I leave with a real sense of pride in what has been achieved, but also great confidence in the company's ability to pursue the opportunities that lie ahead."
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