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Unilever (NYSE:UL) CEO Alan Jope has indicated his intention to retire at the close of 2023, per a company statement.
“Unilever has seen improved performance, enabled by its clear strategic choices and a significant company transformation,” Unilever Chairman Nils Andersen said. “The Board will now conduct an orderly succession process and support Alan and the management team in further driving the performance of Unilever.
Jope has helmed the British consumer products giant since January 2019, from which point the stock has declined by double-digits. Thus far in 2022, sledding has been particularly difficult amid what Jope called “unprecedented inflation”, backlash over its decision not to pull out of Russia, significant headcount reductions early in the year, and the addition of activist Nelson Peltz to the company’s board in May. US-listed shares of the consumer staples manufacturer have fallen 18.89% in 2022, only slightly outperforming the S&P for the year.
Read more on Peltz’s plans to shutter his London operations.
