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The Latest Breaking News from Hein Schumacher

Unilever sells Russian business after pressure from campaigners

Dove maker’s deal with local manufacturer Arnest Group includes four factories

The Guardian - UK

Unilever lauds ‘carry-over pricing’ from historic inflation for $6.4 billion profits

The Ben & Jerry's owner says its starting to see negative pricing in some markets, but Europeans are still absorbing the group's rising costs.

Fortune

Unilever shares jump as it defends price rises despite higher profits

Owner of Marmite, Dove and Ben & Jerry’s says margins of 19.6% were helped by ‘carry-over pricing’

The Guardian - UK

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Shareholders back £7m pay rise for London Stock Exchange boss

Vote to double David Schwimmer’s maximum pay levels comes as fear grow about exodus of firms from City

The Guardian - UK

ESG developments this week

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the environmental, social, and corporate governance (ESG) trends and events that characterize the growing intersection between business and politics.

Ballotpedia

Unilever to scale back environmental and social pledges

Environmental groups say bosses should ‘hang their heads in shame’ as firm bows to pressure from shareholders to cut costs

The Guardian - UK

Unilever CEO Asks: Who Wants Ice Cream?

Unilever is looking to unload its low-growth, low-profit ice cream business. It is the largest in the world, with a 20% market share - more than double its nearest competitor - and should generate around $17 billion for the company. What else does new CEO Hein Schumacher have to unveil…

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No Ice Cream Price Gouging Thanks to Substitutes

Unilever’s split from its ice cream division shows market share and market power are very different concepts.

Reason

Schumacher’s plan to offload Unilever’s ice-creams has a very familiar flavour

Shareholders may welcome the change in direction, but the chief executive’s predecessors used similar tactics

The Guardian - UK

Marmite-to-Dove maker Unilever to cut 7500 jobs under £14m CEO's shake-up

With the cuts being ‘predominantly office based’, its London HQ in Victoria could take a big hit

Evening Standard

Unilever boss could be paid up to €17.4m if he hits maximum targets

Group could face another revolt by shareholders after 60% voted against remuneration report last year

The Guardian - UK

Unilever boss Hein Schumacher gets tough – except in Russia

New-broom CEO has mandate to make big changes. He should revisit unfathomable decision to keep operating in country

The Guardian - UK

Unilever Profit Drops As Sales Flatten After Price Hikes

British consumer goods giant Unilever on Thursday said its net profit dropped 15 percent last year to 6.5 billion euros ($7 billion) as sales flattened as the group hiked prices.

International Business Times

Unilever hits out at its own results for 2023 branding them 'disappointing'

CEO of consumer goods multinational promises ‘speed and urgency’ in turnaround plan

Evening Standard

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Reason

Is ESG Already Over?

CEOs are beginning to wonder what to do when environmental, social, and governance factors are at odds with performance.

The Guardian - UK

New Unilever boss is still getting it wrong on Russia

The Dove and Magnum maker says it wants to make a ‘positive impact’ but pays taxes to a state waging an illegal war in Ukraine

Fortune

Employees skipped out on personal hygiene when working from home. Now deodorant is the unlikely winner of return-to-office mandates

Working from home meant lesser use for personal care products like deodorants. With the return to offices, Unilever is seeing growth in the sale of deos.

The Guardian - UK

Surge in Unilever’s deodorant sales after workers return to office

Worldwide, underlying group sales are up 5.2%, led by price rises, as the number of items sold falls

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The Guardian - UK

ECB warns eurozone economy ‘remains weak’ after leaving interest rates on hold; US growth accelerates to 4.9% – as it happened

Eurozone central bank gives press conference after pausing its cycle of rate hikes, as inflation slows and Europe’s economy weakens

The Guardian - UK

Marmite and Dove maker’s profits soar on back of price rises

Consumers buy fewer products in cost of living crisis but Unilever’s revenues increase

Evening Standard

Unilever warns on inflation -- it is not over yet

The cost of basic foodstuffs and other kitchen staples will keep rising for at least another six months, consumer goods giant Unilever warned today.

Wales Online

Maker of Marmite and Ben & Jerry's says food prices will rise further

It said prices might not peak until halfway through this year

AFP

Unilever enjoys strong 2022 on higher prices

London (AFP) - British consumer goods group Unilever said Thursday that 2022 profits soared as sales leapt after product prices shot higher in line with rampant inflation.

People

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