Unilever stock lost about $2 billion in market capitalization amid calls to boycott Ben & Jerry’s ice cream after the company posted a Fourth of July message saying the United States should hand Mount Rushmore over to Native Americans. Shares of Unilever, the Anglo-Dutch multinational company, dropped about 0.5 percent on Friday, 0.8 percent on…
Prices Will Keep Rising Despite ‘Peak Inflation’ Chatter, Warns Unilever CEO
Unilever CEO Alan Jope has warned of the possibility of persistently high prices in the near future even if inflation levels out, adding that soaring costs have not yet reached their peak. Jope made the comments while speaking to CNBC at the World Economic Forum in Davos, Switzerland, on Jan. 17, where the businessman was asked if…
Over 100 Incidents or Injuries Reported Since Dry Shampoo Mass Recall: Health Canada
More than 100 incidents or injuries have been reported to Health Canada ever since the agency recalled over 1.5 million dry shampoo products due to the detection of benzene, a cancer-causing chemical. The recall, announced on Oct. 18 by the health agency, covered certain batches of Bed Head TIGI, Dove, and Tresemmé dry shampoo products…
Unilever CEO Set to Leave After GSK Debacle, Arrival of Activist Investor
Unilever said CEO Alan Jope would retire at the end of 2023, announcing the move less than a year after a bungled attempt to buy GSK’s consumer healthcare business, and two months after activist investor Nelson Peltz joined the board. The British consumer products maker said its board would start a formal search for a…
Klondike’s Choco Taco Ice Cream Discontinued as Customers Favor Other Products
Klondike’s Choco Taco ice cream is being discontinued by the company after nearly 40 years, after the company experienced a huge spike in demand for its other products. A Klondike spokesperson confirmed the popular food item would be discontinued in a statement to Newsweek, explaining: “Over the past two years, we have experienced an unprecedented spike in…
Unilever Switches Some Ingredients to Adapt to Commodities Shortages
June 16, 2022
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LONDON— As commodities—from crude oil to sunflower oil—remain in short supply, Britain’s Unilever has changed the ingredient makeup for some of its products like deodorants and packaged food to cut costs and mitigate supply constraints. The ability to switch ingredients and materials, something consumer goods manufacturers traditionally find difficult, became even more valuable after Ukraine’s…
Billionaire Investor Peltz, With 1.5 percent Stake, Joins Unilever Board
Billionaire activist Nelson Peltz will join the board of Unilever, the consumer goods giant said on Tuesday, heaping pressure on the maker of Dove soap and Hellman’s mayonnaise as it reviews its strategy. Shares in the London-listed group jumped 7 percent as it said Peltz, who has amassed a 1.5 percent stake in Unilever, will…
Unilever Warns of More Price Hikes as Cost Pressures Build
Unilever raised prices by over 8 percent in the first quarter and warned more hikes were on the way as the maker of Dove soap and Ben & Jerry’s ice cream lifted its cost inflation forecast for the second half of the year due to the Ukraine conflict. The company said it now expected cost…
Consumer Goods Giant Unilever Cutting 1,500 Management Jobs
LONDON—Unilever, which makes Vaseline skin care products and Ben & Jerry’s ice cream, says it is laying off 1,500 staff as part of a company-wide restructuring. The proposed changes mean that senior management jobs will be cut by about 15 percent while junior management roles will be reduced by 5 percent, it said Tuesday. The…
GSK Rejects 50-Billion-Pound Unilever Offer for Consumer Assets
GlaxoSmithKline on Saturday said it had rejected a 50-billion-pound offer from Unilever for its consumer goods arm, saying it “fundamentally undervalued” the business and its future prospects and that it would stick to its plan of spinning off the unit. Unilever confirmed the approach earlier on Saturday, saying the Glaxo unit would be a “strong…
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