Unilever CEO to leave after GSK takeover debacle

STORY: Unilever says chief executive Alan Jope is set to leave.

He’ll go at the end of 2023, after a bungled attempt to buy the consumer arm of pharmaceuticals giant GSK.

The move also comes two months after activist investor Nelson Peltz joined the board.

Unilever says it will now start a search for Jope’s successor.

Earlier in the year it made three failed bids for the GSK unit, with a top offer of around $53 billion.

That was met with disapproval by shareholders, some of whom said it tainted Jope’s track record.

He was appointed CEO in 2019, and is a veteran of 35 years at the company.

Now some investors have expressed concern that the firm will be saddled with a lame-duck chief for another 15 months.

One Reuters source said it was “unusual” to make the announcement so early, saying it may have been for fear of leaks.

Unilever shares have underperformed most rivals during Jope’s term.

On Monday they were up around 1% by early afternoon.