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Unilever set to shift power...

Unilever set to shift power to London

07 Feb 2005
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London based Patrick Cescau is expected to be named as chief executive and Rotterdam based Antony Burgmans will keep his chairman role.

07/02/05 Anglo-Dutch giant Unilever is expected to adopt a shake up of its corporate structure this week, with overall control expected to go to London. Unilever is currently under joint chairmen, a tradition that has been in effect since the group was created 75 years ago, through the merger of Lever Brothers and Van Den Bergh. However, this week London based Patrick Cescau is expected to be named as chief executive and Rotterdam based Antony Burgmans will keep his chairman role.
Burgmans' chairmanship is expected to be an executive role, but Unilever will signal that in the medium-term, the position will be non-executive. Pressure on Unilever to simplify its corporate structure became evident last September when it admitted that it was likely to miss self-imposed targets set down in its Path to Growth streamlining strategy that began in 1999.
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