Unilever share price: Chief marketing officer to step down next year

New chief executive to choose successor to Keith Weed

Unilever share price: Chief marketing officer to step down next year

Unilever’s (LON:ULVR) chief marketing officer has unveiled plans to step down next year. The news comes after the Anglo-Dutch consumer goods giant recently announced a change at the top, with  Alan Jope, currently President, Beauty & Personal Care, to succeed Paul Polman as chief executive officer on January 1, with Polman to support the transition process during the first half of the year.

Unilever’s share price has advanced in London in today’s session, having gained 1.73 percent to 4,243.50p as of 14:24 GMT. The stock is marginally underperforming the broader market rally, with the benchmark FTSE 100 index currently standing 2.06 percent higher at 6,841.98 points. The group’s shares have added about 1.6 percent to their value over the past year, as compared with about a 6.7-percent fall in the Footsie.

Keith Weed to step down

Unilever’s chief marketing officer Keith Weed announced on Twitter yesterday that he had decided to retire in April next year, after 35 years at the consumer goods giant. Bloomberg noted in its coverage of the news that Weed had been an instrumental figure in the industry, pushing for greater accountability for advertising spending, and that he had  led calls for tech giants like Facebook to provide greater transparency on the audiences brands reach via online platforms and urged them to police extremist content.

Reuters meanwhile quoted a spokeswoman as saying that choosing a successor would be a decision for Unilever’s new chief executive Alan Jope.

Analysts on Unilever

Goldman Sachs, which is ‘neutral’ on Unilever, set a price target of 3,960p on the shares yesterday. According to MarketBeat, the Anglo-Dutch consumer goods giant currently has a consensus ‘hold’ rating and an average price target of 4,377.54p.

As of 14:52 GMT, Friday, 07 December, Unilever plc share price is 4,247.50p.

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