Unilever PLC (LSE:ULVR) has appointed executive search firm Spencer Stuart to find a replacement for chair Nils Andersen, Bloomberg reported, citing "people familiar with the situation".
Bloomberg said the move would continue an overhaul of the group's leadership after a series of missteps in recent years frustrated shareholders.
The report said the maker of Marmite has shaken up its top ranks after appointing activist investor Nelson Peltz to the board last year.
Victoria Scholar at interactive investor noted Andersen has been chairman since November 2019 “with shares down under his tenure, underperforming the FTSE 100”.
“A new leadership team could help offset recent criticism of profiteering and put its failed acquisition of GSK’s consumer healthcare division to the past,” she thought.
In May, Unilever said chief financial officer Graeme Pitkethly intended to leave the company at the end of May next year, while Hein Schumacher will take over as chief executive from Alan Jope on 1 July.