| Monday | ||||
Unilever announced the… Unilever announced the appointment of Hein Schumacher as its new CEO, following an extensive, global search process. Hein will replace Alan Jope, who announced in September 2022 his intention to retire from Unilever. Hein is currently CEO of the global dairy and nutrition business Royal FrieslandCampina and became a Non-Executive Director of Unilever in October last year. He will begin as Unilever CEO on July 1, 2023, after a one-month handover period. Unilever Chairman Nils Andersen said: "We are delighted to welcome Hein as our new Chief Executive, after an extensive, global search process. Hein is a dynamic, values-driven business leader who has a diverse background of experiences and an excellent track record of delivery in the global consumer goods industry. He has exceptional strategic capabilities, proven operational effectiveness, and strong experience in both developed and developing markets. The Board looks forward to Hein realising the full potential of Unilever as a winning business which delivers long-term growth and value for all its stakeholders." Reference Link | ||||
| Over a week ago | ||||
Bernstein analyst Bruno… Bernstein analyst Bruno Monteyne downgraded Unilever to Underperform from Market Perform with an unchanged price target of 3,500 GBp as he braces for three macro worries, namely rotation out of staples; consumers trading down, at least in Europe; and deflationary worries as commodities continue their decline. | ||||
| Over a month ago | ||||
Last week, Consumer… Last week, Consumer Reports said it had found dangerous heavy metals in chocolate from Hershey's (HSY), Trader Joe's and other popular brands, stated Kevin Loria in a report published on December 15. After having tested a mix of brands both small and large, Consumer Reports concluded that for 23 of the chocolate bars, "eating just an ounce a day would put an adult over a level that public health authorities and CR's experts say may be harmful for at least one of those heavy metals." Other publicly traded chocolate products makers include Mondelez (MDLZ), Nestle (NSRGY) and Dove parent Unilever (UL). Reference Link | ||||
Investor Event to be held… Investor Event to be held in London, England on December 8 at 4:10 am. Webcast Link | ||||
Investor Event to be held… Investor Event to be held in London, England on December 8 at 4:10 am. Webcast Link | ||||
Bernstein analyst Bruno… Bernstein analyst Bruno Monteyne downgraded Unilever to Market Perform from Outperform with a price target of EUR 40.60, down from EUR 50. The analyst says the tactical trade of quality in European food "has worked well and it's time to end it as we head into 2023." | ||||
| Over a quarter ago | ||||
Bath & Body Works… Bath & Body Works (BBWI) announced that the Company's Board of Directors has voted unanimously to appoint Gina Boswell Chief Executive Officer and a member of the Board, effective December 1, 2022. Sarah Nash, who has served as Executive Chair of the Board since February 2022 and interim Chief Executive Officer since May 2022, will remain Executive Chair through the end of the Company's fiscal year on January 28, 2023, at which time she will transition back to Chair of the Board. Boswell has more than 30 years of experience, including extensive beauty and personal care leadership roles at global companies such as Unilever (UL). | ||||
Morgan Stanley analyst… Morgan Stanley analyst Pinar Ergun raised the firm's price target on Unilever to $46 from $42.75 and keeps an Equal Weight rating on the shares. | ||||
