Unilever’s new CEO, Fernando Fernandez, has outlined plans to expedite the sale of several underperforming food brands as part of the company’s strategy to accelerate its turnaround.
In a recent fireside chat with Barclays’ Head of Consumer Staples, Warren Ackerman, which was published on Unilever’s website late Monday, Fernandez shared that the company intends to focus on growing its most profitable brands, including Knorr and Hellmann’s. He revealed that approximately 1 billion euros ($1.08 billion) worth of local food brands within Unilever’s Europe division do not align well with the company’s portfolio and will be sold off.
This move is expected to streamline Unilever’s food segment and sharpen its focus on high-performing products.
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