September 2008
Unilever announces that Patrick Cescau, Group Chief Executive, will retire from Unilever at the end of the year. He has served the business for 35 years and has led Unilever for the last four, initially as Chairman and then as the company’s first Group Chief Executive.
The Board intends to appoint Paul Polman, 52, currently Executive Vice President and Zone Director for the Americas at Nestlé SA, as Group Chief Executive to succeed Patrick Cescau.
Mr Polman will be proposed for appointment to the Board at Extraordinary General Meetings to be convened during the autumn. He will take over as Group Chief Executive following an orderly transition.
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.
“At the same time, we are very pleased to welcome Paul Polman. He is a great talent with significant international experience and an excellent track record. He has all the attributes necessary to build on Patrick’s achievements. We are delighted that he has agreed to join the business and to lead Unilever into the next stage of its development.”
Patrick Cescau said: “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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