Unilever (UL) Chief Executive Officer Fernando Fernandez plans to replace a quarter of the company's top 200 managers following a performance review as part of a broad restructuring of the consumer-goods group, Bloomberg reported Wednesday, citing the CEO at the Barclays Global Consumer Staples Conference.

In the past 18 months, Unilever reduced its white-collar workforce by 18%, aiming to shed what Fernandez referred to as "pockets of mediocrity," the report said.

Fernandez is moving forward with restructuring efforts that involve separating Unilever's ice cream business, which includes Magnum and Ben & Jerry's, by November, the report said.

The CEO dismissed the possibility of large acquisitions outside the US and India, identifying India as the company's next major growth market, the report said.

Unilever did not immediately reply to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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