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Beiersdorf CEO Signs Five-Year Contract Following Strong 2013

This article was originally published in The Rose Sheet

Executive Summary

Beiersdorf CEO Stefan Heidenreich has signed a new five-year contract extending his tenure through 2019, the Hamburg, Germany-based firm announces in conjunction with the release of its preliminary Q4/full year 2013 results. Sales rose more than 7% organically to more than $8 billion, though the results on a nominal sales basis were weighted down by currency effects.

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Beiersdorf is seeing early signs that its new business strategy and streamlining efforts are paying off. The firm’s first-quarter sales increased 6.9% to €1.53 billion, with strong performances from its NIVEA and Eucerin brands. Emerging markets were a source of growth, and new CEO Stefan Heidenreich vows to mend the firm’s leaky China business.

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