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Unilever Targets €1 Billion in Savings to Speed up Its Turnaround
The savings will help fund a shift toward personal care and household brands as Unilever simplifies operations and absorbs costs from its McCormick food deal.
- On Tuesday, Unilever announced it targets €1 billion in savings by 2029 to accelerate the company's turnaround under Chief Executive Officer Fernando Fernandez.
- Fernandez aims to transform the London-based company into a personal care business by simplifying operations and addressing stranded costs from combining its food division with McCormick.
- Unilever maintained annual goals of 4% to 6% underlying sales growth and at least 2% volume increases, emphasizing beauty and wellness labels including Dove in markets like India.
- The stock pared its decline to trade 0.7% lower in London, while shareholders will hold a 65% stake in the combined food company once the transaction closes next year.
- Management will present the full strategy on Wednesday at a capital markets day, though the food sale has proved divisive for investors concerned about brand attention and debt assumptions.
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13 Articles
13 Articles
Reformatorisch Dagblad+2 Reposted by 2 other sources
British personal care and food producer Unilever wants to save 1 billion euros by the end of 2029 to accelerate the reorganization of CEO Fernando Fernandez, the company announced on Tuesday.
·Apeldoorn, Netherlands (Kingdom of the)
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Fernández is transforming the Anglo-Dutch company into a business exclusively dedicated to home and personal care
·Bogota, Colombia
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Total News Sources13
Leaning Left2Leaning Right2Center3Last UpdatedBias Distribution43% Center
Bias Distribution
- 43% of the sources are Center
43% Center
L 29%
C 43%
R 28%
Factuality
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