Unilever PLC (LSE:ULVR) boss Alan Jope will step down from his role at the end of 2023 after five years at the helm and 35 in all at the consumer goods giant.
Unilever – which numbers Marmite, Dove soap, Magnum ice cream and Pot Noodle among its brands– said it has begun its hunt for Jope’s successor, both internally and externally.
“As I approach my fifth year as chief executive and after more than 35 years in Unilever, I believe now is the right time for the board to begin the formal search for my successor," Jope said.
“Growth remains our top priority and in the quarters ahead I will remain fully focused on disciplined execution of our strategy and leveraging the full benefits of our new organisation.”
Chairman Nils Andersen gave a glowing assessment of Jope's time in charge.
“Under his leadership, Unilever has made critical changes to its strategy, structure and organisation that position it strongly for success,” Andersen added.
Jope though was heavily criticised for Unilever's botched attempt to buy Glaxo spin-off Haleon earlier this year.
Haleon is currently worth £25bn or half the £50bn Jope offered.
Shares in Unilever edged up 1% to 4,066p in morning trading and are little changed from when Jope took over five years ago.
Rival household goods giant Reckitt Benckiser Group PLC (LSE:RKT, ETR:3RB) is also seeking a successor after chief executive Laxman Narasimhan returned to America to lead Starbucks after three years in the job.