0938 GMT - Unilever's CEO departure suggests that the board is seeking to accelerate the pace of change at the company while remaining fully committed to the turnaround strategy, UBS analysts say in a note. "While [Hein] Schumacher was instrumental in building the foundation of the growth action plan, Unilever is entering the new phase of its strategic journey where execution is key," they say. The appointment of current CFO Fernando Fernandez--a well-known executive by the investor community--to replace Schumacher suggests that he is believed to be the best equipped for the role, they add. The analysts highlight that Unilever's stock currently trades at a 13% discount to the European food and personal-care sector. Shares are down 1.5%. (michael.susin@wsj.com)
(END) Dow Jones Newswires
February 25, 2025 04:39 ET (09:39 GMT)
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