Unilever Fragrance Restructuring Benefits Anticipated in Second Half
This article was originally published in The Rose Sheet
Executive Summary
Unilever expects to see the benefits of a prestige fragrance restructuring in the second half of 2004, the company reported during a fourth quarter and year-end financial presentation Feb. 12. The implementation of the reorganization, however, has resulted in an 18% decline in prestige fragrance sales, Chairman Niall FitzGerald added
You may also be interested in...
People In Brief
Unilever names new leader: Paul Polman, currently executive VP and zone director for the Americas at Nestle SA, will succeed Patrick Cescau as group chief executive at end of the year, according to Sept. 4 release. Having joined Unilever in 1973, Cescau will retire after 35 years with the company, the last four of which he served as the firm's first group chief executive, tasked with overseeing restructuring initiatives designed to jumpstart innovation and boost prestige fragrance sales (1"The Rose Sheet" Feb. 16, 2004, p. 9). Unilever Chairman Michael Treschow states: "Patrick has had an outstanding career. We are greatly in his debt for the transformation he has brought about." Polman, 52, came to Nestle in 2006 as chief financial officer with 26 years at Procter & Gamble behind him, including a stint as group president, Europe, from 2001-2005. Polman "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," Treschow says. The new chief executive will be proposed for appointment to Unilever's board at extraordinary general meetings to be convened this fall, firm notes
People In Brief
Unilever names new leader: Paul Polman, currently executive VP and zone director for the Americas at Nestle SA, will succeed Patrick Cescau as group chief executive at end of the year, according to Sept. 4 release. Having joined Unilever in 1973, Cescau will retire after 35 years with the company, the last four of which he served as the firm's first group chief executive, tasked with overseeing restructuring initiatives designed to jumpstart innovation and boost prestige fragrance sales (1"The Rose Sheet" Feb. 16, 2004, p. 9). Unilever Chairman Michael Treschow states: "Patrick has had an outstanding career. We are greatly in his debt for the transformation he has brought about." Polman, 52, came to Nestle in 2006 as chief financial officer with 26 years at Procter & Gamble behind him, including a stint as group president, Europe, from 2001-2005. Polman "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," Treschow says. The new chief executive will be proposed for appointment to Unilever's board at extraordinary general meetings to be convened this fall, firm notes
Unilever Cosmetics International Innovation Revival Underway
Unilever Cosmetics International is stepping up innovation under new management to boost sales of the prestige fragrance unit, VP-Investor Relations Howard Green said during an Oct. 29 Q3 sales and earnings call