Consumer goods giant Unilever heading for clash with Reckitt Benckiser
>
Unilever heads for clash with Reckitt Benckiser in hunt for new boss after chiefs of both companies announced their departure within weeks of each other
- Both FTSE 100 companies will be fishing for talent in the same pool
- Unilever announced Alan Jope would be stepping down after less than four years
- At Reckitt, Laxman Narasimhan quit to become Starbucks CEO
<!–
<!–
<!–<!–
<!–
<!–
<!–
Consumer goods giant Unilever is set to face rival Reckitt Benckiser in its hunt for a new boss after the chief executives of both companies announced their departures within weeks of each other.
The FTSE 100 companies, two of the largest in the London stock market, will be fishing in the same pool for talent with both senior executives from L’Oréal and Procter & Gamble.
Unilever announced last week that Alan Jope would be stepping down after less than four years at the helm.
All change: Unilever announced Alan Jope would step down after less than four years at the helm
His departure follows a tumultuous year in which the company — which owns global brands like Dove — infuriated investors with its failed bid to buy GSK’s consumer health business.
The company also faced the wrath of fund manager Terry Smith, who accused it of losing focus on profits.
At Reckitt, Laxman Narasimhan quit to become chief executive at Starbucks coffee chain. British companies face fierce competition to lure top executives, as US companies tend to offer much more lucrative rewards.
Unilever has invited City investors to a strategy day in December, where internal candidates can prove themselves.
Martin Deboo, consumer goods expert at brokerage Jefferies, said Hanneke Faber, who leads Unilever’s nutrition division, and Fernando Fernandez, who deals with beauty and wellness products, are considered potential candidates.
Unilever and Reckitt may be trying to strip each other. Deboo said Reckitt executives Kris Licht and Volker Kuhn could be on Unilever’s list of candidates.