Unilever looks to Ericsson's Treschow for new chairman

by Joanne Payne, brandrepublic.com, Monday, 18 December 2006, 9:00am,

LONDON - Unilever is expected to appoint Michael Treschow, the chairman of Swedish telecoms group Ericsson, as its new chairman, ending the long-running saga for succession at the FMGC giant.

The company is reported to be finalising a package with Michael Treschow, a specialist in turn-around situations. Unilever is hoping the chairman will breathe new life into its flagging fortunes and help it to compete with global giants such as Procter & Gamble.

In May this year, there were calls for the Anglo-Dutch multinational to be broken up after stagnating sales in Europe and poor financial results.

According to the Daily Telegraph, Unilever is expected to have finalised terms with Treschow by the beginning of 2007. Treschow is to replace Antony Burgmans, who is due to step down in May.

Shares in Unilever were up 4p, or 0.28%, this morning to 1,400p.

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This article was first published on brandrepublic.com