Unilever Names Former Maersk CEO as Chairman
November 13 2019 - 7:34AM
Dow Jones News
By Saabira Chaudhuri
Unilever PLC has tapped the former head of Danish shipping
company A.P. Moller Maersk as its new chairman, the second big
change in the consumer giant's top ranks in the past year.
The maker of Hellmann's mayonnaise and Dove soap said Wednesday
that Nils Andersen -- an existing board member -- would replace
Marijn Dekkers with immediate effect. Mr. Dekkers' departure wasn't
expected and comes after less than four years in the role.
The boardroom change comes the same year that Alan Jope became
Unilever's new CEO, replacing longtime chief Paul Polman. Under Mr.
Jope, the company has worked to convince shoppers to spend more on
higher-end personal-care products, while fending off upstart
competitors. It has also grappled with volatility in key emerging
markets like India and Brazil, as well as sluggish growth in Europe
and the U.S.
Unilever said Mr. Dekkers, 62, would remain on its board as a
nonexecutive director and that he was stepping down as chairman to
allow him to focus on Novalis LifeSciences, an investment and
advisory business he set up in 2017.
During his tenure, Unilever made big changes to its portfolio,
selling its struggling spreads arm and buying higher-growth beauty
brands and malt drink Horlicks. It also fended off a $143 billion
hostile bid by Kraft Heinz Co.
However, Mr. Dekkers -- along with then CEO Mr. Polman -- also
faced criticism from some investors over a proposal last year to
ditch Unilever's London headquarters and consolidate the company's
base in the Dutch city of Rotterdam. That plan was aborted after
opposition from shareholders, some of whom weren't pleased with how
Mr. Dekkers handled the matter, according to a person familiar with
the discussions. Mr. Dekkers also upset some shareholders during
meetings held in the wake of the Kraft bid, while his abrupt
handling of questions on Unilever's performance at its 2017
shareholder meeting made others bristle, the person added.
Unilever declined to comment further on the rationale for Mr.
Dekkers' departure. Unilever's usual maximum tenure for a chairman
is nine years. The company didn't make Mr. Dekkers available for
comment.
While Mr. Dekkers earned a reputation in his previous role as
CEO of Bayer AG for shaking up what critics called a staid
corporate culture, the appointment of Mr. Anderson is unlikely to
bring major shifts in strategy. He has served on Unilever's board
since April 2015.
That the 61-year-old Mr. Andersen is Danish, rather than British
or Dutch, is also seen as a positive given the recent anger over
the Rotterdam plan, the person familiar said.
Maersk ousted Mr. Andersen as CEO in 2016 when the company was
battling the worst ocean-shipping downturn in years and a historic
oil-price rout. It then split into two units, focused on transport
and energy, which investors welcomed.
Before his time at Maersk, Mr. Andersen was CEO of Danish brewer
Carlsberg A/S from 2001 to 2007.
Announcing his elevation Wednesday, Unilever cited Mr.
Andersen's "significant business experience" and said he would step
down as a director of BP PLC and as chairman of closely held
Salling Group A/S. He will, however, remain as chairman of Dutch
paint giant AkzoNobel NV.
Write to Saabira Chaudhuri at saabira.chaudhuri@wsj.com
(END) Dow Jones Newswires
November 13, 2019 07:19 ET (12:19 GMT)
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