Unilever chief stands down

FOOD and consumer goods group Unilever today announced the departure of its chief executive, Patrick Cescau, after 35 years with the company.

Mr Cescau, 60 this month, has been credited with reviving the fortunes of the Anglo-Dutch business, whose brands include Flora, Persil and Dove soap, since taking the helm in 2004.

Nestlé's Americas director, Paul Polman, 52, is expected to take over the position, subject to confirmation by shareholders.

Mr Cescau led a significant restructuring of the company, reporting pre-tax profits of £2.48 billion in the six months to June 30, a 21 per cent increase.

He said: "We set out to transform Unilever and get the business back on track. I believe that phase of work is largely complete."