Unilever’s under-fire boss Alan Jope today called off his dealmaking efforts after the failure of a £50 billion pursuit of GlaxoSmithKline's consumer healthcare brands.
Jope said shareholders had told him to focus on a more measured evolution of the company's portfolio, which includes the brands Marmite and Dove soap.
He has announced plans for a share buyback worth up to three billion euros and said there will be no major acquisitions in the foreseeable future. Results from Unilever showed the fastest underlying sales growth in nine years, but with prices driving much of the 4.5% increase.
