Unilever’s (LON:ULVR) bosses will face investors this week for the first time since the failed attempt to move the company’s headquarters from London to Rotterdam, The Sunday Times reports. The blue-chip group is scheduled to update investors on its third-quarter performance this Thursday, after it recently scrapped its simplification plans following significant shareholder criticism.
Unilever’s share price has been steady in London this morning, having inched 0.19 percent higher to 3,938.50p as of 09:05 BST. The stock is marginally outperforming the broader UK market, with the benchmark FTSE 100 index currently standing 0.06 percent lower at 6,991.87 points.
Unilever to face investors
The Sunday Times reported yesterday that Unilever’s financial earnings this week are likely to be overshadowed by questions over the future of chief executive Paul Polman, finance director Graeme Pitkethly and chairman Marijn Dekkers. The trio have come under pressure after failing to listen to investors who opposed the group’s plans to relocate to the Netherlands, which would have seen the company lose its spot in the FTSE 100.
The newspaper notes that investors are calling for a hastening of Polman’s exit plans. He had been scheduled to retire in the coming months.
“He’s meant to be leaving next year, but I think the market would quite like to know when that will be,” one top 20 shareholder told The Sunday Times. Last week, news emerged that investors are also demanding a boardroom shake-up at the consumer goods giant.
Q3 results preview
The newspaper notes that the Anglo-Dutch consumer goods giant is expected to post a 4.6-percent fall in sales to €12.6 billion for the third quarter of this year, while analysts estimate that its underlying sales will have jumped by 4.3 percent.