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Journalism of Courage
Anglo-Dutch giant Unilever switched its focus to boosting shareholder returns on Thursday after failing to meet sales growth targets, lifting its stock, and said Chairman Niall FitzGerald would retire early.
Unilever Plc/NV, the food and consumer products group withbrands like Knorr FitzGerald, one of the major architects of its five-year path to growth strategy, will retire one year earlier than expected on September 30 as chairman of Unilever Plc, and be replaced by Patrick Cescau, head of Unilever’s foods division.
FitzGerald’s early retirement is likely to fuel persistent speculation that he is favourite to be appointed as the next chairman of news and information company Reuters Group Plc, where he is already a non-executive director.
Reuters, due to announce a successor to long-standingChairman Christopher Hogg by its annual general meeting in April, declined to comment. ‘‘We are not going to comment on the appointment of the next chairman until that appointment is made,’’ a Reuters spokeswoman said.
FitzGerald added, ‘‘I will be working until midnight on September 30 at Unilever, nearer the time I will start to think about what I might do in the future.’’
(Reuters)
