Unilever announced it will reduce about 1,500 jobs globally and 5% of its managerial staff as part of an overhaul of its management and structure.
“The company will move away from its current matrix structure and will be organized around five distinct Business Groups: Beauty & Wellbeing, Personal Care, Home Care, Nutrition, and Ice Cream. Each Business Group will be fully responsible and accountable for their strategy, growth, and profit delivery globally.,” said Unilever.
Unilever’s restructuring came after a failed £50bn bid for a division of GlaxoSmithKline and continuous pressure from activist investor Nelson Peltz.
“Our new organizational model has been developed over the last year and is designed to continue the step-up we are seeing in the performance of our business,” explained Alan Jope, CEO of Unilever.
Unilever’s 80 brands are currently grouped into three divisions which would eventually be turned into five categories.
Fernando Fernandez, EVP Latin America, has been appointed president of beauty & wellbeing, Fabian Garcia, President North America, has been appointed president of personal care, Peter ter Kulve will still be president of home care, Hanneke Faber, president foods & refreshment, has been appointed president of nutrition, Matt Close, EVP ice cream, has been appointed president of ice cream, while Nitin Paranjpe, chief operating officer, will become chief transformation officer & chief people officer.
All changes are expected to take effect on April 1, 2022.
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