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This article was originally published in The Rose Sheet

Executive Summary

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

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