Pitkethly is to retire in 2024 as Unilever CFO. On Tuesday, Unilever Plc (ULVR.L) announced that Chief Financial Officer Graeme Pitkethly would retire in May 2024 after over two decades.
In 2015, Pitkethly replaced Jean-Marc Huët as finance chief.
The 56-year-old was Unilever’s UK and Ireland executive vice president and head of M&A and treasury.
Like the rest of the consumer goods business, his retirement comes as Unilever faces increasing energy and commodity prices and margin pressure.
Unilever said it would conduct a formal internal and external search for Pitkethly’s successor.
Unilever, one of the world’s largest consumer firms, named Hein Schumacher to replace CEO Alan Jope in July.
Board member and activist shareholder Nelson Peltz applauded that move.
“The timing of Pitkethly’s retirement announcement is maybe not a surprise, as this will give the incoming CEO the opportunity to reshape his leadership team,” said Tineke Frikkee, fund manager at Unilever shareholder Waverton Investment Management.
“Eight years as CFO of a multinational is decent time and retiring in May 2024 should enable a useful handover to a new CFO.”
Unilever also announced that Conny Braams, its chief digital and commercial officer, would resign in August.
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